They know everything and would enjoy a cold water on a really hot day. 4) Drive for dollars, exercise is different areas.

@Nathan SharpWelcome to the vibrant BP community, where you will find like minded individuals committed to REI and also helping others succeed.Your time on this social media site will be well spent.You have taken the 1st step by announcing your readiness and commitment to embark on a REI career.Since your interest lies in multifamily units, I added the pertinent links below for you to review the blogs and listen to the podcasts.https://www.biggerpockets.com/renewsblog/2013/04/09/how-to-buy-a-small-multifamily-property/ (How to buy a smail multifamily property) http://www.biggerpockets.com/renewsblog/2014/07/19/how-to-buy-a-duplex/ (guide to buying a duplex) https://www.biggerpockets.com/renewsblog/2015/11/16/how-to-choose-areas-multifamily-deals/ (Choosing multi-family deals) BP Podcast 061:How to Succeed in Multifamily Investing – A Unique Conversation with Josh, Brandon, and BenBP Podcast 131: Investing in Multifamily Properties in a HOT Real Estate Market with Serge Shukhathttps://www.biggerpockets.com/renewsblog/2013/03/07/profitable-ethical-landlord/The bottom line is that you must take action to start.Don't get bogged down with analysis paralysis.

How does hot water heater look/age?

I think in some areas (Los Angeles, Denver, Phoenix), the market is so hot that you can maybe make some mistakes as far as interpreting the market, but in most, it's very important to pay close attention to more than just the numbers.

He's also pretty hot on the hardwoods.

Does anyone have any tips on how to find prime "hot spots" around town or know any reliable ways to find foreclosed houses?

Texas had done very well during the market down turn and is hot as fire cracker now.  

Data that trends one way may mean future boom times (or a future all-Pro player) in one case, but a hot mess in another.I don't mean to poo-poo the discussion, I have strong opinions on the effects of quantitative easing, the willingness of banks to engage in certain types of lending such as mortgages, the regulations and backing of such lending, and data/examples that have led me to those conclusions and love to debate them with knowledgeable folks like here on BP!

I have put nearly $`13,000 in electrical  rewiring of both units, painting, new ceiling fans, and a new hot water boiler for the un-rented unit.

Right now the DMV is hot.