Worlds most liveable city ;-)There are certainly tons of deals in numerous states within the US where you would easily achieve a $5k per month passive income from rentals. 

This is how I would structure this deal Shequila:Offer price: $65kDP: 20% [$13k]Seller carry paper: $52kLoan term: balance amortized over 15 year at 5% interest Exit: Balloon Payment at Year 10 [Seller might counter this, so use as a negotiation element (reduce to, say, 5 years)]Monthly payment to Seller: $411.  

But I represent numerous developers and builders in this market that do exactly what I described. 

I have not seen many do that.on our bare land subdivisions we do that .. also we test the soil for certain elements if its been farmed heavily..

There are numerous meet ups both focusing on areas North and South.

I would say that all of the numerous methods we use to find deals work, just track what you're doing so you can review and figure out how you need to tweak things going forward.

Their is many many many more ways they are not watching every element of their business. 

I've had numerous friends and colleagues offer me substantial amounts of money to invest (in one case $1M) and have finally decided to take a serious look at combining some of my funds with my friends and colleagues to purchase an apartment complex. 

The communication element is important, especially if you're managing your property with a spouse, family member, or a property manager.

I have read numerous times that you shouldn't invest in California real estate (you can buy 4 properties in the midwest for the price of 1 in CA) and that you should never invest in a city that has no industry or a declining population.I live in the mountains of Northern California, very "middle of nowhere".