My main take away so far is that I am probably overthinking the cost quite a bit.

The main line is an excellent market for rentals but it can be very pricey as many of the spots are Class A RE. 

But obviously the main downside is giving up equity that would benefit your future wealth.

I mainly operate in the Southeast part of the U.S. 

Now we're seeing investors pouring money into buying Class C rentals - but, many are getting burned.In our experience & opinion, the main determinant of property Class is not location or even property condition, those are #2 and #3.

Here are my four main goals:Goal 1: Buy and Hold in Developing Areas (Texas)I plan to invest in underdeveloped areas where I see growth potential, buying at a discount now and holding for long-term appreciation as development takes place.Goal 2: Wholesaling Discounted Homes (Texas)I’m also thinking of wholesaling properties in those same areas.

You can definitely house hack in California, too - you could buy a place with an ADU, live in the ADU and rent out the larger main house.  

I am mainly trying to understand the chronology of steps to take for my first investment.

I was able to get an inspection done and from that I know the main work needed is as follow:Under house crawlspace:some foundation pillars or crumbling and need replacement.Major leaks under main bath causing wood beams deterioration.Multiple minor leaks to wood beams in different areas as well.HVAC duct work is leaking at connections.

My Main question is - How can I acquire land out of pocket.