They can be a great way to get you off the ground. It helps you minimise your risk and you get to work with experienced investors, but, and its a BIG BUT, many have bought property through investment clubs and have actually lost money.
Unfortunately they had trusted the research that was presented to them. You should never trust someone else with his or her research, you must always double check and do your own due diligence. Remember its your own money at stake.
What is the best single piece of advice you can give to any new investor? Have the confidence to take the plunge. Go out and just do it.