I certainly know there will be a lot to learn and a lot of hard work.

I just think it will take a lot to end up with a "blood on the streets" scenario, where prime Bay Area RE is down 30%.

I'm young and have a lot to learn.

However, to go out and just buy something for $1,000 hoping it works out knowing only what you have read or heard...you might as well spend it on lotto tickets. 

@Thomas Franklin I will take your questions as really good tips, I still have a lot to do.

There is lot to learn on this page. 

I have little-to-no cash reserve...student loans, daughter in private school, and a long work commute (gas $$) have a lot to do with that.

Then about 2 years later they started getting behind on our mortgage, then we found out they were behind in the first mortgage as well...long story short, we had to foreclose on the note we held and pay the first to keep them from foreclosing a senior lien first...the day of the sale at auction, we were served with a notice that they had filed for bankruptcy, which stayed the sale and the auction was voided.After getting an education in foreclosure, I now had to learn about bankruptcy.Since we were now living in another state, we had an attorney handling it all - I was never comfortable leaving things to other people, especially when we had a lot to lose.

I bought and gut rehabbed 1 townhouse and renovated 1 single family house to date, and purchased a vacant lot to build my first new single family house.

 Welcome to BP Naftal, there is a lot to learn on this site with blogs, podcasts, articles and these forums, read and listen. good luck with your future Business.