One thing to remember is dont over leverage or over extend yourself and play it ultra safe until you get really good at sensing the market and looking at indicators of whats about to come.

It all depends how desperate the seller is if they will consider your options.If they want all cash and quick close and know they will be rid of the problem to shift all the risk to your side then has to be an ultra low price with huge upside for your time.

Right now with the COVID-19 rush and ultra low interest rates, everything is being bid up by $10k's over asking. 

Specially in the ultra competitive market of SF Bay Area.

He mentioned a statistic that the "Ultra Rich" ($50M+ net worth) have 60% of their wealth in stocks and 40% is in real estate.I was hoping to get some feedback from some of the people who have long term experience (or great references) in building a strong portfolio.

Did you know that all of our beaches belong to the people and that hotels and the ultra rich can not buy them?

My interests lie in the upstairs which boasts enough raw space for 2 good sized apartments after renovation, and essentially creation of the second one from scratch.We are looking for a way to partner on this venture, but not sure the best way to go about it.  

Your ultra violet inspection will show you what to remove.

If I had an ultra productive person who I can count on for things like carpentry or drywall, I'd pay them at $15-20/hour and keep them busy.Part of the big problem, though, is that there's no 'easy' way to determine if I can count on someone and if they REALLY have the skill-set.  

Maybe some sort of ultra-creative portfolio loan with a 40k hard money piggyback?