My ocean front (long Beach, ca.) next door neighbor offered to sell me his townhouse last night.

You will do the most amount of volume here if you apply yourself, this approach will require that you work "full time", as well as nights and weekends. 

But, I also am of the opinion that if there is a strong rental market, and the company feels comfortable tailoring a rent guarantee based on the company’s tracked performance in the past, it can help the investor sleep at night.

I'm looking to dive into a condo as an investment as well!

@Andrew B.The water shutoff, HVAC system, air filters have to be replaced every three months.The water heater is located in the garage which is owned by another unit.In another property, I recently had an HVAC system blower fail in the middle of the night spewing black smoke into a bedroom.

So Bonner would shower at his mother’s house and spend the nights sleeping in his car around the corner.

I think it's awesome you've been learning about investing in real estate and you're wanting to dive in.

Youll make mistakes in the beginning, but if you start small and put the right "team" together (i.e. a good deal finder such as an agent, a lender, a property manager, etc) then youll minimize your risk while learning so much from diving in.

People still need to go away, even during a recession, and Big Bear will offer an inexpensive alternative most nights and weekends, with inexpensive family activities.

If I lived in Longmont, I wouldn't drive to Boulder or Denver to go out at night other than special occasions.