Keep the cash flow positive, buy below market value and you should be in good shape, regardless of prices. 

Many have posted a few great tips already, that's the cool thing about this forum ;-)That said, I highly recommend using the awesome tools provided here on BP to learn the basics of analysis and underwriting.A few tips to get started and your continued learning:Find and connect with other BP members that are in your area.Set up keyword alerts to be notified of the topics that interest you.Read Beginner’s Guide.Check out BP Podcasts.Find upcoming real estate events and meetups near you.If you'd like to tag someone in the conversation, type @ followed by their name and then select the name of that person that appears below the comments box.

I agree with Kevin's comment below that Keller Williams provides the models, systems, and training necessary for full time or dual career investor/agents to be successful.

If I wait until I'm ready to but I will not be paying interest on money that is just sitting there but at that time the market will be low and I won't be able to pull out as much money.

It would never occur to me to want to a higher assessment for resale value, around here assessments have been below 30% of FMV.

I finally finished the renovations  on my gorgeous house (that's what everyone else says anyway) and I'm renting out the 1 bedroom apt below and just started renting out rooms in the main house where I live. 

First off, I highly recommend using the awesome tools provided here on BP.A few more tips to get started:Find and connect with other BP members that are in your area.Set up keyword alerts to be notified of the topics that interest you.Read Beginner’s Guide.Check out BP Podcasts.Find upcoming real estate events and meetups near you.If you'd like to tag someone in the conversation, type @ followed by their name and then select the name of that person that appears below the comments box.

One of the side effects of this strategy can be lower cash flow.  

My experience was positive; I am sure that the agent made all the difference, regardless of how she came recommended.Of potential interest: A couple of the offers - “insultingly” below my asking price - were from some LPs/LLCs, one of which was definitely a REI arm of a large private equity firm.

Your interest rate should already be low.