While not my main area of practice I represented a Brooklyn credit union lender, some buyers/sellers and a few landlords in real estate transactions and rent arrears cases.While we had successes and some failures along the way I ultimately concluded that I wanted to do something different with my life and cashed out of the business.

People most successful in all aspects of real estate investing and the real estate BUSINESS, gain knowledge and experience n three areas: (1) real estate principles, (2) real estate law, and (3) real estate finance.  

For your first question: you can definitely be successful either way.

Good luck and hope to hear more about your success!

Quote from @Jacob Hrip: I have read this one years ago and it is a great book by a very successful guy in the space!

@Nicholas Nakamurain order to be successful, you will need to build a network on the ground in Ohio with people you know and trust. buying a random property on the MLS in unknown condition based on other people looking at it, and putting it under management with people you have never met, will not work, and you will lose money.https://www.biggerpockets.com/forums/963/topics/1195280-expe...https://www.biggerpockets.com/forums/48/topics/1137397-balti...so - what's your plan? 

If you’re ever looking to invest in Florida, @Josh Green has a successful STR operations going on in the Tampa Bay Area that is providing his clients with solid returns year round.

I think the unsuccessful and struggling units who have not jumped ship yet will continue to do so, leading to less supply, increasing demand, and a better year for the successful units. 

Success is Focus.

Success depends on the individual.