I have no idea about Long Beach - but I have plenty of clients buying in Tampa with similar rates who are turning profits even with management.

Less risk as far as a debt note, that's true, but debt is not the only risk to be managed.

Check your options to use 401k self managed to invest in real estate.

My manager is largely responsible for that. 

Our goal is to bridge the gap between real estate investors and tax & financial advisors who truly get the nuances of REI.This tool is all about connecting folks like you with advisors who aren't just about managing investments or doing basic tax returns.

Either myself or project manager wen I don't have time, because most contractors need daily supervision.

You can also partner with experienced investors who have the funds but need someone to find and manage properties.

We set up our CPA, LLC, website, marketing plat forms (social media), investor (sponsors) list, I have an operation manager, acquisition manager, and myself leading the charge.

I've worked in most phases of residential construction, but have not yet managed  a project this large.  

It took quite a good time (~6months) even with a property manager but finally found the renter after rent decrease by 200$.