We don't drink, smoke or gamble so that helps, lol.

@Trevor Fleck Immerse yourself in the local real estate market as much as possible.

If you don't, it's almost akin to gambling - your potential risks spiral out of control.I've always treated turnkey acquisition as just another source of deals.

One of the bigger issues that I see with the area although people more immersed in it who live and work there were less concerned, is that there is a demographic outflow from the south side and there is a lot of crime.  

I fully admit that in retrospect - it was a huge gamble.

It's only in that scenario that I would break even....so I'd need an even larger crash to have timed the market, so it's a gamble where I'm feeling a bird in the hand is better.  

You should join TREIA or other organizations like that and just start immersing yourself in the community to figure out what is successful in this area and what you are drawn to.I want to flip a house next.  

I suggest immersing yourself in education first to get started. 

They may have some references or contacts that they know so that you don't have to gamble on a bad contrator.

Others immerse themselves in the business.