As I was surfing around I found this great article on Real Estate Investing.  It gives good advise and sound strategy.  One shouldn't race out with checkbook in hand and purchase houses, we have seen that lately and many are finding that has left them in a very tight place.  Check it out.  I think you will find it helpful. 

The Morgan Hill, San Martin and Gilroy Cities of Santa Clara County still has some nice properties that are good investments and nice flippers.  Our barriers to entry are higher than other parts of the country because the best flippers are in excess of One Million Dollars - not for the faint of heart.  You are not playing with the big boys.