I'm keeping my powder dry.Anthony

Get a skilled job 1st;  Build up your powder and bide your time;  Buy your own place to live first- you'll get more favorable terms with less $ down and can always convert it to a rental later. 

From my perspective, it makes sense to get more "doors" as people say on here, but I'm wondering if it's better to keep some powder dry if prices correct in the bay area.

Keep your powder dry for the next good deal that comes along.  

you best be in a position to close on the deal... that's why most the folks in Know that do this are agents .. they get listing to protect themselves.. its pretty tough to flip dirt or a plat if you don't have the powder to close and the money to get your entitlements.. its rare that you will buy it cheap enough from the farmer that a builder is going to give you any kind of finders fee... they will just wait until you can't close and go direct. 

So not only did he get a great cash flowing deal but the value has doubled in the 4 years since he bought.I ended up buying my primary residence around the same time, so I didn't have the dry powder to scoop up rentals as well, but I couldn't believe that more people weren't jumping at these opportunities of a lifetime.

I was alway interested, however the cap rates made look elsewhere.The house was built from 1890, so it was spent mostly on modernizing (ie. electrical, new kitchen, washroom, adding powder room, removing walls for open concept, new everything pretty much) and creating the second unit (long story on foundation)

Cash is easier and cheaper rout for one specific deal(s) however a hard money or private money loan can allow you to do more deals and scale quicker or allow you to keep some dry powder for when the project doesn’t go as planned.

When it comes to investing your money into a powder room or an entire renovation/rehab, do-diligence and homework are just 2 tools needed to obtain a great deal.

I had enough powder dry in 2009 10 and 11 to purchase 4 four Plexes and a single-family all On one cul-de-sac.