For Real Estate Lawyer, might I recommend Kate Brooke for your consideration.

You will need to either get a screaming deal, like 55-60% of ARV, less repair costs, or have cash from another source.

Know your market.Be patient, searchand SEARCH only dothe screaming deal.WAIT .... it willcome.While you're searching and waiting,find an Investor partner(family maybe)Make sure they are informed and READY when the opportunity arises.ACT.Build cash.

the headlines everywhere scream.

The next town over did this revitalization back in 2001 and had a HUGE impact on RE prices (above what everyone saw with the bubble)Now normally these negative cashflows screams...SELL, SELL, SELL......But these properties are both on the east coast and in areas where appreciation is expected in the next 2-5 years.

I can really make a nickel scream, and I do my own management and don't get too much tenant damge.

Get a degree that can actually land you a job if you need one.I also seriously suggest a foreign language.You don't need a degree to do real esate if your ultimate goal is to wear jeans with holes in the knees and hang out with small time contractors as you do small deals.That fix and flip stuff gets mighty old when you are old enough that your knees hurt and your back is screaming by the end of the day.If you expect to get up to bigger things and swim with the big fish in real estate, lacking education puts you at a real disadvantage.

I don't pay much attention when people on Wall Street start screaming the sky is falling, but Buffett is of a different sort and I believe him when he says this would effect everyone significantly.

Here in CA, where we had the largest rapid level of appreciation in RE, the state received huge amounts of unexpected revenue from prop taxes, and today, are screaming that they are out of money.

If he put it in as a owner occupied then as a realtor I would run screaming from the deal.