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. 

Technology and either building your own team, or using a team that has already been established by someone you can trust is key to a successful investment.

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

You might be disappointed but still in the game.  

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.

You could then establish a self-directed IRA or 401(k) that could be invested into real estate. 

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.

Non- recourse are the exact opposite: you are not personally responsible but it requires certain criteria like experience etcetera: These are Fannie Mae and Freddie Mac.All professional real estate investors go with non- recourse.Real estate is a numbers game, the bigger the better.

It's the best way to determine if you are winning or losing in this game.