Although I am new to real estate, I work with experienced agents who are helping me out.  

Start as a bird dog for an experienced wholesaler. 

I'm calculating market if it was in great shape.My question:  What would you experienced guys/gals do?  

I have seen many people who thought they knew all the rules do something that was prohibited.I always suggest, if going that route, you have an experienced ERISA attorney set up the operating agreement and have them available for consultation for any transactions.Jaime

Of course once we’ve become more experienced, this wouldn’t be much of an issue.I plan to learn as much as possible from BP and look forward to networking with you all.

Even in our hot market here in DFW there are places that are not experiencing appreciation.

The question I ask to all the experienced BP members out there would be: Is it possible to invest in real estate with so limited knowledge?

They are not easy and they can be an administrative pain, most experienced realtors will tell you the challenges that you will face with a short-sale.

I am not an experienced house flipper, so take this with a grain of salt, but if you and I were friends sitting down at lunch this is what I would tell you.  

This is all very general, would need to know specifics to get into more detail.If you feel good about your ARV analysis, just as a precautionary measure, I would add a 10% "Oh-crap" contingency fund to your expenses if you haven't already, and see if the numbers still work for you.A more experienced flipper than I should probably chime in and let you know if there's a detail you've forgotten.