@Mark Graffagnino, don't know if you've experienced this or not, but we have a friend with a couple of properties in crappy neighborhoods in city of ATL (don't know zip code) that have great returns on paper (he was all-in on one for around $25K and rented for $950), but with one of them, he's paid the city of ATL about $4K in fines in the last 3 years (broken fence, trash in yard, etc.).  

I would find a local experienced mentor and offer to apprentice for a while.  

The oil related layoffs seems to have affected the higher end of the market a bit more than the mid-end.There are rural areas in Kern County which have not experienced much appreciation and might have better potential for future price increases.

BTW, if you are an experienced RE Investor please feel free to message me to connect.  

One thing I have noticed is that as you get better, start doing your own deals, and become more experienced you will start doing things differently or better; and when you look back and think of your first deals there may be things you will realize you could have done differently.

Here are a few of places I plan on adding value to make it enticing for experienced investors to strike up a conversation and allow me to pick their brains. 

The downside is that we've already been experiencing this boom for a number of years, so you won't be able to find cheap lipstick-job multifamilies anymore like you still can in some parts of the midwest.

But any experienced large multi family owners, how do you look at it?

I'm not as experienced in real estate investments as a LOT of folks here...but we've made safe/wise choices (so far)...and have been doing ok...we're building an "Ohana" on our property for another rental as well...with another one planned for down the road. 

Any recommendations? Thanks!