I've looked at these areas as well and both of us being fresh RE investors here's my take - for the first couple flips/rentals I plan to do I want them to be easy "base hits" and I'm not looking to get a triple play or home run deals until I get my feet wet at least.  

So after I spent the first half of this year doing my first few flips myself to get my feet wet and learn the system "ins & outs", following this summer, I went all in with marketing and launched my own marketing company to do the marketing for me so I could spend more time actually flipping properties instead of locating them.Now I have started partnering with independent wholesalers to work the leads I'm generating under joint venture relationships with me retaining first right to purchase any property that results from my leads at the negotiated wholesale price plus a flat wholesale fee for their time or we do a JV split on any revenue generated off the properties I choose not to purchase that were generated off my leads.

Starting with wholesaleing to get my feet wet in the real estate industry.

@Brent Coombs While I'm 'developing that eye"....Would you recommend REITs or Crowdsourcing (like RealtyShares.com) as a place to get my feet wet....then going to an REI Club for first bigger investments.....then get into a niche?

Meanwhile, I'd sell or pull out your equity and buy a small property that cash flows so you can get your feet wet and your confidence back up.

He's been warned by the landlady and the police, numerous times, to leave me be, and has yet to do so. 

It gives me the assessors numeric code for the particular property.

Unless you are doing a JV with an experienced investor, then I would definitely start with that duplex, tri or quad to get your feet wet.

I am also interested in investing out of state however I feel it would be beneficial to get my feet wet in an are that is near me first.

Wet flood mitigation techniques can potentially reduce your premiums further and often pay for themselves relatively quickly.