Midwesterners attack our low cap rates, but the reason our cap rates are so low is because our real estate is so desirable.

In addition, being an agent will give you good insight on transactional Real Estate, but the license will not teach you how to be an investor.So, why not "Begin with the end in mind" (Stephen Covey) by knowing exactly what you want to be as an investor, and a good start will be the answer to the above question.The next step after knowing what you want is actually writing down your Goals, Objectives and Actions to be taken for the year of 2017, then 2018, then 2019, etc.Now you're ready to attack the business of being an investor, but in the correct arena you want to be in "Long Term".Go get it and enjoy the journey!!!

The OP is attacking it from the wrong angle.To the popularity point, Craigslist traffic may be increasing, but the increase in "popularity" seems to be mainly due to an increase in spam.

I want nothing to do with your community after being attacked for asking a simple question.  

Besides that, it seems to be a good plan of attack unless I'm missing something.

Hope the seller doesn't have a heart attack. :)

Gives me a bad feeling the more I look around haha, it's not ghetto by any means but it's not necessarily promising either....somewhat of a gamble in my eyes.My basic plan of attack: I'd like to attempt house hacking initially, get a feel for owning a house, renting things out, and working it that way.

Found myself on my second episode and it’s giving me a panic attack.

I feel your strategy explanation would better equip us to answer your question, plus I am curious about what info led you to the conclusion you reached.Will please don't view this as an attack as I value what you have to say.I looked through the census for rental and housing vacancies and couldn't find the highest vacancy rates you mentioned.

I know there are many (absentee, tax lien, vacant, probate, etc.) but I don't want to attack all niches and have my arms outstretched.