I just wanted to get my feet wet so I am ok buying with $10K equity.  

Sorry if this is a dumb question but I have come across this term in numerous posts and was wondering what it means?

We are looking to get our feet wet in the ocean of REI. 

A couple months ago, my renter contacted me saying the floor under the hot water heater was wet.

I have the advantage of coming from a family that had numerous real estate deals while I was growing up so was able to absorb not only the construction part of renovations, but also the financial possibilities.

@Jason Ines  Hi Jason,  In my opinion, there are numerous ways for someone to get started in real estate and not one strategy is right or wrong.  

New from Tucson, Trying to get my feet wet in the real estate.

I have spoken to numerous investors that already have rental cabins in the Gatlinburg/Pigeon Forge area.

It takes a little time of looking at numerous places, crunching the numbers, and getting feedback from smart and experienced people like @Rick Santasiere for the realistic expectations to develop.

I'm an ex-pat Canadian living in Texas who advises Canadian investors on US-based real estate investments.Buying 4-plex is a great way to get your feet wet.