New to Real Estate Investment

I have few work colleagues who often talk about house flipping and holding for a steady monthly income. After few thoughts, i have decided to try out this field and try my luck.  As i said earlier, am completely new to this field and want to gain much knowledge as possible before i get involved in this. Can you guys please help me with your own experience at what i should look at and which aspects i should consider when buying a house or investing in one. 

Thanks guys!!