It also has vastly higher vacancy rates and vastly lower prices.

Keep educating yourself through websites like this, YouTube, podcast, and your local library.

I have 20 years of real estate experience but not on the investing side, which I'm learning is vastly different.

I just attended a 1 1/2 hour spiel at the local library from this loan modification company called Home Loan Preservation(HLP).

Try not to go on vast spending sprees.Start using cash on purchases rather than on your credit accounts.

After I bought the property, I found those people had a much higher incidence of skips and evictions, with downtime and turn costs vastly exceeding the benefits of easier lease-ups. 

However, there are still vast swaths of motivated Sellers who are awaiting your call.  

The vast majority of this market has homes nowhere near the $10,000 price point.

If you are relying on 100% others people's money, you don't live in the area you are trying to work in, and you need other people to do a vast majority of the work (ie. find the deal, fund the deal, close the deal), that will often hold back high producing vendors from working with you.

BP has a nice library of lawyer-reviewed leases for every state in the country.