"Place is a dump and I don't have to pay rent". 

Hi @Joy McQueary - you can find a breakdown of rental rate increases by state online, and here's where to find a list of the hottest multi-family markets.

You may find that you can rent a much nicer condo compared to what you would pay on a mortgage for the same number.

You usually need to lock up the deal and get a lot of those things done during the process.Buying near your son's college would be a great idea if you plan on having him house hack there and manage or learn or use one unit as short-term or mid-term for when you visit. 

Buying a home is the bay area retirement planYes, there are a lot details and differences for everyone's particular situation.

I can come up with money for flips and have a contractor I have been talking to for the work.

I just bought a property where my lender gave a mortgage on the purchase with 20% down and a second mortgage on some stuff.

@Kevin L Gleave has created a live doc that has up to date info on local meetups, I can PM you a copy (I have Kevin's permission ;) )

Definitely a great place to learn and connect with other investors and start to get your feet wet. 

What happens if you sell a property to invest somewhere else and make a mistake?