Nusing student turned REI?

Hello everyone,

My name is Grace and I'm a 21 year old nursing student who wants to get into real estate. I've read several books so far including Dean's Be A REM.

I'm really tentative about starting out and how. I stay in Texas where I've read bird dog fees are illegal. I am planning on using no money down strategies seeing as I have no funds and no job, although I have saved $5000 to pay for my bills while I find another job (or hopefully a good deal).

Should I risk my $5,000 savings or proceed with no money down strategies?

I was driving yesterday around a very nice neighborhood (I was lost) and noticed a house that looks like it's been forgotten and had a realtor's for sale sign. It looks like it's been there a while. So I looked some info it's list price is $680,000 (2009 Appraisal Value:$499,422) 4 bedrooms 3.5 bath, built 1960, and 1.5 stories

I don't know if I should even consider building a buyer's list for this home, I haven't called them yet or anything, just know this info from har.com

Is this how too much for my first deal consideration, am I in over my head? Maybe I should just read more...

From my understanding, assignments are just transfer of title rights, so if I were to get a good deal (let's be crazy) and say $200,000 and was able to get it at no money down, would it be best to own it so I can rent it out or (if I were able to) sell it for $300,000 sell the trust deed or mortgage for that amount and make $100,000.

I'm just throwing numbers to make sure I have the basic foundation. Thanks for your help in advance, it really is appreciated.