For various reasons, I think most areas will see appreciation only keep up with inflation (that is, their real appreciation will likely stagnate).

Back when I started selling foreclosures, the REO (real estate owned) inventory was crazy high.

@Allan Guerra, at least in Ohio, you cannot receive a commission based on the purchase price of a property without being a licensed real estate agent.  

A good real estate accountant can save them thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend that they find a tax accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.I would also recommend that they look for a accountant willing to work with them throughout the year, who can help them strategize and who is responsive when they want to know the consequences of the financial decisions they are making throughout the year.Good luck.

Let’s be real: Not every deal is going to close. 

Too many rentals, too much deferred maintenance, no real budgets, not enough money in reserves.You can still get CapEx in condos....these are called "special assessments" .

Build your network by joining local real estate investor meetups or online communities like BiggerPockets.

The only real difference is when you start collecting rent after purchase.How have you weighed this against the probability of tenant nonperformance?

Estimates and projections are great, but experience gives you the real numbers!

Love your mindset—real estate is a long game, and you're starting with the right attitude!