I focus on dividend kings and aristocrats along with a couple REITs.  

Location is KING in real estate.If you can get a good property in a GREAT area, no matter if you're looking to buy and hold, or fix and flip, you should be in good shape no matter what the market is doing.Hope this helps!

Welcome @Raymond King.

I've recently purchased foreclosure property at court house in one of the PA county near Philly suburbs close to King of Prussia. 

They want $3000 dollars from me (I have 3 properties, each received the attached letter)This is the kings men poking you with a sharp stick and demanding your coins.

We plan to keep 7 years to indefinite.Our location in King County.  

Then within 1 to 2 years move out by buying another place rent your old place out you lived in and continue to increase your positive cash flow.Remember, cash flow is king!!

As for what type of properties you want to look for.. cashflow is King, especially given your financial situation.I honestly wouldn't look into investing long distance with your minimal income and minimal cash in hand.

Deal flow is king in this market and you either need to have it or to invest with someone who does.Done correctly, passive investing does not simplify life during your learning curve but it does afterwards.If you can predict economic cycles, forget about real estate and short (or long) the stock market...much easier than messing with REI.Stick with good sponsors, cash flow, add value, prudent debt, and reserves...good recipe at any point in the cycle.And if you are investing passively, consider assets classes other than just MF.

But, with that said, maybe the areas that @Kellen King mentioned are no-brainers and therefore should be pursued first.