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But two things always demand attention - the desire and need to move from active to passive attention, and the need to move defensively in late markets and late investing careers.Defensive investing is a way of separating your cash from debt in a mature market to mitigate the impact of any kind of correction. 

A lot of the location question comes down to your goals though as many folks are taking pretty slim cash flow so they can live in desirable areas.

@Franklyn Gutierrez This comes down to your desire for separation of your personal assets and that of your “business”.I’m for forming the LLC and purchasing the property under said LLC.

After 6months of jumping through hoops of securing financing as a self-employed person, searching for the right property, getting the offer accepted, negotiating roof repairs with the seller to meet the FHA guidelines, I finally got it closed.  

I'm on month 3 of a sale, because the title company waited a month and a half to pull a municiple search, that takes the city another month to actually do!

But all it truly comes to is a burning desire.

You can also start making connections by offering yourself to put up bandit signs for wholesalers, searching the MLS for investors, analyzing deals, etc.

Usually the advice on a personal residence is to choose whichver best meets your needs and desires...life is short.

@Alesia AlbertYou might want to run a search on BP.