A little over 15 years ago, in the late spring of 2009, I was a brand spanking new real estate agent coming off of a miserably failed real estate investment venture.

I also recommend you start looking for a professional property manager, at least until you educate yourself enough to run this solo.

Would it be a poor decision? 

The other day I started the thread Why do people Buy Property in California? 

If you rent in a high-crime area, I wouldn't suggest it.

I would venture to say very few landlords correctly hold their deposits based on local landlord/tenant law but as long as the money doesn't walk away and is not wrongly withheld from tenants its highly unlikely wrongfully storing the funds will become problematic.

Let's say it's a family of 4, do you make them all pay for the aprox $40-$50 screening package?

Most get cornered into purchasing specific property types because its what their resources allow.

Do you have any questions?

It's probably one of the most underrated ways to learn and eventually become an investor yourself.