So we are considering investing in northern CO, although that market looks a bit pricey right now.I’m still in the “education” phase, trying to learn as much as possible.

This business requires you to have allot of education, knowledge and experience which you will gain.

I know that sounds like an awful thing when your dream is probably to become a real estate investment mogul, but you're probably going to burn through your 40k pretty quick without any income.With that said, make it an educational job for where you want to be in life.

Hey @Jordan Jettwelcome to BP you couldn't have picked a better location to get a nearly 100% free education on all things real estate investing.

I joined BP to get educated and plugged into a network of "doers". 

All you need to do is read the blogs or post a question and the responses will be educating and gratifying. 

I know there are education companies out there telling you that is how to find deals. 

You will be earning a new education to the one you just completed.Anyway, depending on your strategy you will need to learn quite a bit about the path you will take.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookCouple good reads  9 Reasons You Couldn't Find A Buyer For Your Wholesale Deal Don't Start Wholesaling Until You Read This: Wholesale Advice from a Fix and Flipper How to Start Wholesaling: Getting Past The Education and Into the FieldDownload BP’s newest book here some good due diligence in Chapter 10.

I'll primarily be looking for owner financing/land contract type of deals.I was thinking of just spending some time getting my debt ratio as low as possible while educating myself & networking.