That is one theme-- the local impacts are key, some areas are more or less sensitive based on factors like the local economy and job market.Probably the biggest impact for me was being able to find my first multifamily (4 plex) at a sufficient discount to pencil out well. 

I applaud your efforts to teach your daughter the basics of FINANCE.My youngest daughter (& RE investor) was recently in a wedding party where the groom (PharmD) belatedly discovered his bride (MBA) had >$45k in student loans.

The only nervousness i had going into this was the fact that we are paying for our wedding thats in Sept, and renovations to our first apt.

His theme, or part of it, SEEMED to be :buy all you can without using any of your money or credit.

I have a wedding to be at that weekend in Chicago :(

However, a common theme I've seen is how hard it is to find a good, reliable property manager that makes the money you spend on them worth it.

And how much can you really rely on some mentor to spend time helping you out, successful RE investors are bizzy people by and large.The theme on BP is why spend money when its all here for free, while this is true I really don't know many business's that you can start with no up front capital.

Pick up some themes or ideas you like and incorporate it to yours. 

(I'm hearing the theme song from Kelly's Heroes" going through my head now...for some reason).  

We were married on Sanibel Island and we're lucky enough to to have our wedding filmed as part of the official Sanibel Island music video with our appearance first @ 4:12 into the video http://www.youtube.com/watch?