I have almost the exact same building except it's 15 units; I live in one of them and my 18 year old daughter lives in another.  

If everything is different except for the nominal prices, what gives you reason to reach the conclusion that the same thing will happen to the market again?

make sure that you have your pre approval and financing  all lined up in case a  property becomes  available .Regarding buying an investment property before buying a home -  decent idea  except that this might eat up  most of the capital you have to work with I like the idea of  possibly increasing your  budget a bit and looking for a multi family home that  you can both live in and rent ...in the area you describe these  will be  higher priced than condos  though ....I am located in the area you describe  wanting to buy so if you have any loan / mortgage  questions - feel free to  call or email all the best

As a Baltimore investor I'll have to echo @Curt Davis. 60k turn key is exceptionally hard to find if you'd like it to be in good shape.

No losses in any of the cases to me except for my time and some lawyer fees, a whole boatload of aggravation and some sleepless nights. 

Me and my father are both interested.Short and simple i listened to the episode 3 of BP podcast and that guys beginning life is exactly what iam living except iam in factory work.I have yet to begin and I already love itDevin M.

Came out of High School and thought about school but never chose it cause a quote that got me thinking that was: "Traditional education teaches everything except what matters.

I don't have any experience with any one except Conner remodeling and design.  

Yes there will be another housing crisis except it's not really a housing crisis it's a capital markets crisis.

If you are buying from a wholesaler with hard money, then you will be a flipper You might rehab and hold, but the process is completely the same except in the end you will be hiding the property and refinancing it instead of selling it.