Still, if your values are as you expect you some built in equity,  I would say if you can afford to bankroll a hiccup or a belch as it were, then this is a long term play that could pan out. 

If you're flipping a house, have a track record, aren't a slimy character, and can pay high teens interest for six months you'll find plenty of lenders at the local REIA who'll bankroll you.

I do have some bank role to ride out the top not being rented  for a while.. 

But more likely you will need to partner with someone that has the bankroll to acquire the property.  

As for dollar cost averaging that only works over very long time periods its rougher to do in RE than stocks because of the larger dollars involved and it assumes your bankroll lasts long enough to hit the bottom.

Currently saving as much as I can to build my bankroll and reserves.

Just because it doesn't say "full-time real estate investor with a huge bankroll" doesn't mean anything my friend.

This will help you build your bank roll, learn how to evaluate deals, and build relationships with other investors.

However, I do have one investor willing to bankroll a rehab if I find a good deal.

Read, study, learn from the mistakes of others, then, if you have the bankroll and the stomach for it, then do it.