Likely to appreciate - Unless the price and rent increase at or above the rate of inflation, your present value return and income are actually declining.Located in an area where you can make money and business risks are low.Below is a diagram showing the process I would follow:There are a lot of topics covered in the above diagram that it’s impossible to discuss them all here.

Is there anything virtual to watch on the topic? 

I have actually wrote an article on the topic: https://www.biggerpockets.com/member-blogs/10850/86621-six-steps-approach-to-getting-started-in-real-estateI'm also in the process of putting together a training that will help to chose the REI field for yourself.

Now I am not a CPA so I don't know anything about this topic.

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcasts: https://www.biggerpockets.com/...Wishing you the best!

I appreciate your early learning into this topic, and believe you will go far.

Would love some stories, success and failures around the topic.

Here are some recommendations for you:Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

Here are some recommendations for you:Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: https://www.biggerpockets.com/podcastIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

@Michael Plaks has written on this topic pretty extensively on BP.