Focus and consistency are going to be your best friends.Also, I wouldn't tackle buy-and-holds right now unless you currently have a high cash flow revenue stream in place.

These days I can't buy a lot for $40-50k.

Not following this - what does your buddies property have anything to do with a property you are buying?  

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.

Investment Info:Single-family residence buy & hold investment in Riverdale.

When I first got started I didn't officially join any coaching programs, but I did buy the materials at mobile home university.

2) You have one rental now, what's your goal of buying more?

Most are selling hype to get you to buy their programs by deliberately make it sound easy.Your profile here on BP is blank, so guessing you are a "newbie"?

Do you ever see signage near the road that says "we buy houses" call that number and have a conversation!

Quote from @Praveen Kumar: Hi everyone,Me and my wife very new to real estate investment and yet to buy a property.