Investment Opportunity?

One of the short sales I was following recently closed and another one is pending. Is it still a good time to buy and invest (interest rates are still low and prices have been flat)? A friend offers his step-by-step experience for his local market at http://utahdean.com/. My assessment at this point is unless I spend the time to look for gems and develop a network of people to help (as Dean does), I may be better off saving myself some trouble and put money in REIT funds? Am I missing something?