This has been my experience: "As to the remedy plaintiffs seek, the case law reveals that "the equitable remedy of specific performance is routinely awarded in contract actions involving real property, on the premise that each parcel of real property is unique" (EMF Gen.

@Colby Burns  Agreed regarding the PM side with them (A member of my spouses family had a horrible experience with them)  Regarding the construction side, I cannot speak to. 

Even though we live in earthquake country, this was a new experience for us.

Does any have any experience with that.

Experiences will vary significantly based upon location.

Not familiar with those markets, but here is my experience starting at 22 and what I regret after house hacking twice: https://www.biggerpockets.com/forums/922/topics/1133476-hous...

If we were heading for a crash, prices wouldn’t be holding steady like that.Now, let me tell you from my own experience—I own 32 properties, and here’s how things have played out:15 have dropped about 20% in value (mostly in areas where demand cooled off).10 have stayed flat, meaning no loss or gain.7 have actually gone up in price, which proves that not everything is crashing—some pockets are still appreciating.And I don’t touch condos.

From my experience dangerous neighborhoods, as your parents put it, are best left to people that specialize in those or grew up in or live in those types of neighborhoods.

After talking with my mentor (He's a realtor with 20+ years experience) he suggested purchasing a rental property first.

In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!