You'll want a great Realtor, contractor, and Property Manager.2) Ensure you have enough liquidity. 

There are plenty of great tenants in CA, however :)My family and I decided to invest in Reno, NV because of this but still wanted to be in close proximity to the Bay Area and Lake Tahoe. 

It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcast: https://www.biggerpockets.com/..

It’s great that you’re ready to take the leap into real estate investing.

There are so many options for great investments in both of the areas I serve ( Gatlinburg and also Blue Ridge GA) I love being able to get a report from the property manager on every turn to know if there were issues or positives about the previous stay.

Louis to be a great place to invest since our real estate is so cheap compared to the rest of the country.

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

That's a great way to over-leverage.

@Jason Bott Could you send me over the contact information from the person you know?

If I can get a deal to cash flow on long term rent with no money out of pocket in a great area I will buy that deal every day regardless if I am underwater