If you stick with one method, as soon as the market changes, you will have a severe lack of inventory.

And super low inventory means no discounts, even for properties in rough shape.

I have some inventory in these markets that might appeal to you.

The inventory is there but the cost of living is so high people just can't afford to buy anything.  

This takes the work out of guessing on your end, and ensures no markup from the contractor.if you don’t wish to do that - ensure you get receipts for materials and ensure you inventory what they buy once it’s on site. 

@Alex Lickenbrock If your young family needs schools and you don't want to pay for private, you may want to consider the suburbs (and there is a range of school/suburb quality as well). 

I am leaning towards purchasing a primary that would require light-medium rehab, in the $125-175k range, possibly with less than 20% DP.

No stock screenings, no work, set it and forget it, exposure to a broad range of good companies and different sectors of economy. 

Assembly Bill 1771, also known as the California Housing Speculation Act, aims to change real estate tax policy to discourage investors from quickly reselling properties like single-family homes.Under the proposed bill, an additional 25% tax would be imposed on the gain from the sale of a qualified asset (including homes) within three years of the previous sale.The tax reduction is dependent on the number of years passed since the initial purchase of the qualified asset, ranging from a 20% reduction for sales occurring between 3.01 to 4 years to a 100% reduction for sales occurring more than seven years after the initial purchase.The revenues generated by this tax increase would be deposited into the Speculation Recapture Community Reinvestment Fund, which aims to support affordable housing, local governments, schools, and infrastructure projects.The bill is introduced by Assembly Member Ward, and the proposed tax changes would take effect from January 1, 2023.Assembly Member Ward argues that short-term investors in the market, including fix and flip investors, contribute to rising housing prices, limiting opportunities for Californians to purchase homes.While the bill may discourage short-term speculative transactions, it is worth noting that California's tax laws still provide certain advantages for investors, including unlimited tax write-offs and depreciation benefits.The bill is subject to legislative approval, and Assembly Member Ward will speak publicly about the bill at the San Diego County Administration Center on a specified date.Please note that this is a simplified summary of the bill and its potential impact on fix and flip investors.

There’s plenty of good books in the $10-25 range that can give you great information.