If you are handy with tolls or have access to a contractor in the family, consider creating a partnership to take advantage of mortgage defaults. My greatest success as a real estate agent was helping people take advantage of HUD and VA foreclosures in the mid 90's. Now there are lots of those same houses in the current market. Many are perfect, even already remodeled, but the owners just got to far behind on the mortgage . HUD and VA loans are guaranteed by government, no mortgage insurance required. The homes have to go through vigorous inspections in order to settle so if maintained well, are very good investments. Watch the property tax sales because the mortgages may also be a lien that keeps you from clear title. Flipping homes might be harder now because of the mortgage industry changing so situations like you want to be a landlord for a while might be your best bet until that improves.

I would recommend a few books from amazon but DO NOT buy the books on late night TV. They are not worth it, since all their info is available elsewhere.