I'm a private lender and I spent quite a lot of time crafting a Note that I lend on, and even if you're a borrower you'll be better served by crossing your Ts and dotting your Is.

I spent a few months wholesaling pre-foreclosures but then I start to wonder, Is it possible to wholesale properties with a set auction date? 

I spent north of 25k.

My wife grew up in Oak Park (near Thousand Oaks).We spent our first year getting our bearings.

I then spent ~$60K rehabbing 3 of the 4 units to add ~$150K of value. 

I spent 1 hr on the phone with a very friendly consultant and discussed my plans for the business credit and established a sole proprietorship for both my wife and I.

They do try to go after the Tenant to recover what they've spent, but they don't have direct access to tenant funds.Obligo is a "billing authorization" which means the Tenant gives them access to a bank account and a credit card.

REFI within the first year (I can do in less than 2 months), then reinvest the cash you got back (and never really spent) on your next deal.Rinse and repeat.

Hey @Darryl Lin, I am also looking in the high desert area, preferably for a small multifamily.

If you want to experience landlord issues, you can fha a duplex or buy an sfh as an investment property & that $250k will easily be spent.