No matter what you do, buying a property with a value add component, having ample cash reserves, having good financing and having immediate cash flow will help minimize your risk.Here is an article I put together on what to look for when passive investing: https://www.biggerpockets.com/member-blogs/10145/83067-limited-partner-s-guide-to-investing-in-the-right-deal

Since BHam is on your short list I think you'll find a ton of value out of reading The Ultimate Guide to Grading Birmingham Alabama Neighborhoods. 

Sometimes we splurge and take a nice trip but for the most part we save and wait for an investment opportunity.

A key is having an established mentor guide you through your first year, in my opinion.

Seasoned investors can help guide you in the right direction and may even be willing to partner with you on a venture. 

Since you're looking at KC I figured I'd drop you a link to The Ultimate Guide to Grading Kansas City Missouri Neighborhoods.

Here're a few more posts to help guiding you further: https://www.biggerpockets.com/member-blogs/10850/86621-six-steps-approach-to-getting-started-in-real-estate https://www.biggerpockets.com/member-blogs/10850/85351-nothing-will-work-until-you-do-maya-angelou

This would be my first home purchase and investment property so I need someone experienced to guide me through the process and help me avoid any pitfalls.

That should help guide you to your next step.

They advertise some pretty cheaply priced doors, so I'll make a trip out there this weekend.