I've tried and failed a couple of times but was blessed to have a former boss who allowed me to learn construction and how to operate a successful business on his dime for a few years.I am in love with  the idea of being able to take a rough project and make it in to a successful property.

Thanks and always look forward to the great advice on this wonderful site!

Thanks and always look forward to the great advice on this wonderful site!

Thanks and always look forward to the great advice on this wonderful site!

Do you go to a physical auction or buy online from sites such as auction.com?

A full time job plus full time school plus getting started in REI may result in one of those three failing, so choose your path wisely.

Welcome TyThere is lots of info here on the site. 

1st post on this site EVER!  

I am new to the site, however I have been listening to the Bigger Pockets Podcast for a few months (among a couple of other real estate podcasts).

well first off this being a landlord site.. and a positive cash flow site generally speaking.. most will tell you are nuts to buy this.however if you can get the property to just about break even maybe lose 100 a month or so and you have a prime Socal asset that someone else is paying off your mortgage and you think rents can go up a little.and you can EAISLY self manage based on quality of the unit .. incredible tight rental market.. that mitigates a lot of land lord issues.I mean whats the alternative you go 1000 miles away to make 100 or 200 a month.. is that positive cash flow going to change your life..is 100 a month negative going to change your life.now this is an extreme.. but i owned a home in Palo Alto that i chose to sell back in 91 because it would have been 300 a month negative.. well that negative within 36 months would have been positive.. and i sold for 500k and today that home is worth 3 million.... and once it got positive it probably would have been positive up to 2 to 3k a month coming into the 2010's.... and someone else would have paid for my home.. plus grade A tenants at all times.. being prime Palo Alto.so thats one extreme.. its really only in low to no appreciating markets with tougher tenant bases that turn a bunch that positive cash flow becomes more acute or for those that want to one day live on their cash flow and be in the business of landlording.. thereby acquiring 50 to 100 doors.