Long term... its a little scary knowing that these buildings are so old and may need major replacements roof/siding/heating or air.

Roofs maintain the integrity of the rest of the house and should be maintained as such.The price in which you purchase the property should factor in the age of the major mechanics along with windows, roofs, and siding considering where they recommend in their life cycle. 

I strongly recommend you take your time to learn and to find what interests you before making any major decisions.  

But this area lacks a major grocery store, movie theater, chain restaurant, etc.  

I did use a contractor to help out with some of the major repairs (42 windows, brand new plumbing, new hardwood floors, and converting from radiators to central air) the rest I did myself so I got exposure to working with contractors and truly understanding what kind of work is involved and what some of the costs in a rehab might be and how to survey a property for needed repairs.

There's a major rezoning coming here, most likely beginning in 2015, that's going to be boosting development density to 260% of the current base permitting, going from 22 dwelling units per acre to 58 and raising height limits from 45' to 75'.

I am telling about myself not because I regret choosing my major in college, but because I feel I don't have all the necessary skills to get started in real estate investing.

I'm sure there are people who actually benefit from the gurus, but common sense tells me the majority if not the preponderance don't.  

Do you use it for the majority of your reading, posting, or a combination?  

I can back that statement up with hard financial data to prove it.Secondly, I know of several areas in So Cal that have provided the opportunity for positive cash flows, but they are typically well outside the major metropolitan areas in inside the desert areas (Antelope Valley, Bakersfield, Fresno, etc. just to name a few.).