If you're a Pro member practice analyzing deals with the calculators and dive deep into the forums.

In short, what you give up is control ... the side effects of what that means run wide and deep ...

Are there any suggestions for a newbie trying to swim in the deep end after getting thrown in.

I see locals buying at deep discounts from tax deed auctions and buttoning homes up to rent then don't sell for atleast 2 years.  

Simply put, they can't compute, or they are only limited to what other people say, and not dig deep enough.

., In my area deep blue seems to be a popular color for red brick houses.

You can't compare a motel 6 in the deep east Texas "middle of nowhere" road to a highly desirable boutique hotel on the beach front in Hawaii.Both participate in the industry national average but one will have about 40% occupancy rate and the other probably has a waiting list year round.My advice is when you look at properties, learn the micro-economics of that city, neighborhood, zip, down to the level of the street corner so you can verify that you know exactly the nightly rate, the occupancy rate, who's the competition, what kind of customers go to that hotel (e.g. truck drivers or fortune 500 CEOs), etc.Also, what the asking price is according to the "industry" is irrelevant if you can't meet YOUR business objectives.

The misinformed newbie tells themselves "I'm not a speculator, so I'm going to go where the cash flow is the highest" ... and blindly following this mantra inevitably guides them deep into the worst ghetto's in the country, where they buy a property for sub $50k/unit, they confuse price with value and think they've gotten themselves a great deal and great investment, never once asking themselves why a property would sell on the open market, turnkey retail, for less than what a car costs and way below the property's replacement cost, and then they very quickly discover the answers to these questions they never asked and find themselves in trouble.

@Mike Hoffmanfman Do not dive in the deep end when learning to swim.Also, save your bullets until you see the whites of their eyes.You said you are a Newbie - why tie yourself up with debt at the beginning of the race - like having a ball and chain strapped to your ankle.

But I'll be doing a pretty deep cleaning of the place and replacing/fixing anything with issues when they move out, as that just comes with the territory.