While I do think that there are a lot of reasons to remain cautious and underwrite as if there will be an adverse cycle during the life of any asset acquired today, I think the long bull run in income property has a lot of runway left in a lot of geographical areas.Your family is smart to save some dry powder to take advantage of opportunities, but I suspect that if they are waiting for a reset of pricing and an opportunity to buy at a discount to today's pricing they'll be waiting a while.A key difference between you and your dad is you have a lot more time to make your money back if you get into the market and subsequently get wiped out. 

But if you are smart about it and you can work around not knowing what size tub is going in the bathroom till you buy it, it can be a huge savings.Over all I’m happy with the flip.

Very smart guys/gals in the group. 

-Buy and hold-Either families or students-Take it slow on rehab-Partner up with my friendLet me try to reason my choices. 

Smart purchases can have big impact if you take the time to plan them out...

One thing to be aware of with dynamic pricing, AirBnB's Smart Pricing will under price your property roughly 10%.

So any career choice that will allow you to hone those skills is where I would focus.Buy right:NegotiationUnderwritingMarket analysiscommercial broker officeFinance right:Mortgage brokerbanking loan officerRaising capitalCreative financingTitle office (they see how all the deals are structured)Manage right:Property managementImplementing systemssolving problemsYou can never go wrong with sales.

In the future, decide on one (or maybe a few, your choice but don't make it too many) payment options.

The smart locks aren't a bad idea, but I'm not sure I'd do it in an area that's not at least a B class or so. 

You need to be street smart and landlord/tenant law smart.