One of the attendees, who is also a client, is consistently sharp (Well, actually, most of the attendees were; the average bear does not take time & money to attend such an event.) and asks good questions. 

There is so much "free" info out there where you can get a bearing and learn

Does this mean that the good times have come and gone, or that greater discernment and effort need to be brought to bear on the decision-making process?

Bear in mind they've already returned the money to your former tenant.

. , other factors to consider would be are there major universities nearby?

Its not mailbox money but if you are willing to do the work there are plenty of markets that are under-served (despite the myth that the whole industry is overbuilt: bear in mind that this business is one that markets to a 3-5 mile radius so a market that is overbuilt could be as little as 10-20 miles from a market that is grossly under-served).

Just starting to get my bearings and prepare myself for this exciting new chapter in life.

I've looked at Palm Spring, Lake Arrowhead,  Big Bear and Temecula. 

I suggested to her that she do exactly what you said and open an interest-bearing account in her name and put the security deposit there, so that it is separate from her other accounts.

Hi everyone,I am new to the USA and looking to invest in property with a long term goal to eventually replace part of my W2 income and also pave the way for my children to get a easier start in life.At the moment I am renting with an intention to buy a single family home this year.In a addition I have other cash - not much - that is sitting in a interest bearing account growing very slowly.