Currently only active in CA.

Considering the holidays and people spending more money on parties and gifts, I was wondering if this would make it too hard to sell the property/would drive the price down due to lack of activity?

This is how many of the distressed properties will still show active, but are actually under contract.

Is the co-worker an active real estate investor?

It is discussed on the podcast often I have been thinking that it may be a way to get active in real estate while in college. 

(my post is based off the assumption of you knowing how to analyze a deal to see if it's a good one or not) The first move is to determine if you want to be hands on and actively managing a deal and the day to day of it or do you want to passively invest in someone else's bigger deal? 

If investing  will be the bulk of your activity and business,  I personally would  find the best 100% commission brokerage around. 

Generally speaking advantageous tax treatment follows.Assuming active participation and AGI is below phase-out, expensed items will reduce taxable income, which seems like mainly W-2 income.Consult with your CPA/EA.

Started reading the Bigger Pockets book on rental property investing and decided to join this forum to seek advice and help with taking that first actual step into investing.

That said, I will seek higher margins for properties that are more expensive within that market, as risk increases as you move to properties fewer buyers in that market can afford.