They claim to have done routine inspections, but I was never informed of this water intrusion issue.

If you have a loan, you may wish to look into due-on-transfer clauses, as well as whether turning it into a rental requires you to refinance to a non-owner-occupied loan/rate.If you're going the umbrella insurance route, perhaps see if it will cover you for several things including just the routine slip and fall (like mold or earthquake).

My goals with REI is to generate as much cashflow and appreciation as possible, so I can get out of the 9-5 routine, build wealth for my future, and have as much time for myself as possible.Is Southern California a tough market for beginners?

There are no get rich quick schemes, and I have built a mobile home park before so understand some of the challenges of affordable housing.  

If you're talking 20 acres, just the outside will run you a lot.Driveways, entrances and parking- $2mm.Turn signals?

Most real estate earns you money over a longer period of time and people don't want to wait, plus with the current interest rates, you can park the money in a savings account and do pretty good with no headaches.

We even bought a couple of apartments in Gulfport, Mississippi, and ventured into mobile home parks in Gulf Shores, Alabama.

- Establish consistent routines

Do you want to be more hands off with just a TOH (Tenant Owned Homes) park or are willing to get in the weeds a bit more with POH (Park Owned Homes ie rentals) park or even maybe a mix of both. 

There's an area in Venice called Wellen Park that seems to be an up and coming area, very family oriented.