They have more skin in the game then you do.Make sure you get clear title.

I'm very new to this real estate game and so far I've been reading BiggerPocket guides and tuning in to webinars and podcasts. 

It may vary in different markets as I know that @James Wise said expect to spend 25% down.

Rapport is quite possibly the most important piece in this game that most overlook.

You might be disappointed but still in the game.  

Seems like the average income for the area varies from 35-40K a year. 

They all have their own feel, different access, and of course varying price points. 

As for cash reserves, that can vary based on the age of the property, condition, location, etc...but I've always hear $10,000 per property (scales down per unit if you buy multiple) is a decent starting assumption.Flipping is active income (not bad for building wealth in the short term), buy/hold is more passive, and cash flow is great (playing the long game)...military installations often come with a decent amount of buy/hold opportunities due to the housing allowance service members receive.lower end is okay...if the neighborhood is.

Plus I also live very close by...and it gives me something to do ;) As long as I don’t get too stressed by the usual repair calls, tenancy changes, etc. it’s really sort of like a giant game, and my goal is to be as fast and effective with every decision.

There are a lot of tire kickers across the board, so that's part of the game, but they might just not know how the neighborhood works.