Get Smart, Novice Investors

"Buying a home for investment purposes is very different from buying a primary residence," says David C. Hehman, co-chairman and CEO of EscapeHomes.com, an online marketplace. "The first thing I would suggest is research, research, research. Know why you want to buy.... Be realistic about both costs and expectations. And find a great Realtor® to walk you through the process.

"An investor's success is in direct proportion to the degree to which he or she understands the investment," he added, quoting Superhero investor Warren Buffett.