R&D is like split testing, trial and error is "I'll be damned to spend the time investing in knowledge so let's just hope we survive the guessing". 

Many are spending their money on Christmas gifts. 

However I'm thinking if I ever hit the windfall on something like this, their pockets are probably way deeper than mine and I'm not going to want to spend the money to fight it.

I hope you understand this is purely about what works best for my budget.

I'd start by looking at where the money is going and how to increase your income and lower your spending. 

In your budget, I like neighborhoods like Clark Fulton. 

Make sure you spend a lot of time reading, learning, and meeting people before making the first investment.

And while there are plenty of skeezy homeowners, I know I will pay the bill, unless you go way off budget and we didn't talk about it ahead of time.

Why would you spend the money on an appraisal now?

Option 3: Find a better investment at this time.Stop thinking of yourself as a real estate investor and start thinking of yourself as a well rounded investor.Pay off your mortgage: Your money is not working for you when you spend it on liabilities like a personal residence.Buy Rentals with little/no cash flow: You are speculating what a rental will be worth in 20-30 years.