It's also something I've thought about for a long time and thought it would be an exciting and rewarding experience, so I am working on taking those first steps now.  

It is high risk, low reward and provides zero experience points.If someone reading this lives California, you should invest in California.

Yes, my investment is here in Mastic Beach, it is a tricky area to be an serious investor, but the rewards can pay off if you know what your doing.  

The reward is worth it because it will provide a better life for your family and you.  

This creates a higher likely hood of more appreciation, as the properties are still priced significantly below adjacent neighborhoods.I do plan on selling the properties in a couple of years, since the ROI isn't great, and just keeps getting lower the more equity appreciates.I keep an emergency fund if something comes up.I'm still small enough that I can cover losses from the day job in a worse case scenario.I recongnize that this is high risk/reward strategy that isn't sustatinable in the long term.

He would probably be taking on most of the risk/reward, but there isn't a reason you couldn't get some "sweat equity". 

Basically, I feel like I've survived the worst of it and I'm approaching the break even point so I should stick with it to reap the rewards on the other side rather than cut my losses.  8 years in the red, but 20+ years making decent cashflow.Thanks again.Andy

Yip it's the nature of it, I worked my butt off in hospitality and got nowhere and walked away from it coz I was sick of slogging my guts out for so little, I thought if I can work this hard in an area of work that reaps higher rewards then I'm gana find it and do that, that is why I'm here so snap to you friend!...

The strategies that appeal to different capital partners will depend upon what stage the investor is in, their goals, the type of property, and the risk/reward.

It's more charming than you would think.