I would rather own fewer solid properties than 50 or 100 cheaper properties.I hear a lot about California being a terrible place to invest with landlord tenant laws.

Should I look in other, cheaper parts of CA?

There are some good property managers over there and contractor rates are cheaper than the western part of the state. 

Learn more here:  Disqualified Parties and Prohibited TransactionsIRA can transfer to SDIRA just like any other IRA to IRA transfer, this is not a taxable/penalty event.  

For commercial spaces - I prioritize a long term / cheaper tenant over a high rent with the potential for vacancy. 

The goal is to try and do 2-3 of these projects/year. margins are too low. you need to work on finding land cheaper. look at 500 pieces of land and underwrite them and the exit. we did that for the last 8 months while we have broken ground on a few deals and we focus on where can I exit at the highest which tends to be urban core infill lots. we do this in Columbus Ohio and expanding to where I moved in miami soon. the margin you have is too low though for new construction. how many new builds do you have? 

It's getting cheaper and easier!

By accelerating your depreciation schedules, you reduce your taxable income which in turn increases your operating cash flow.

So which PM is cheaper?

If it is cheaper to own, you may want to buy and even if you sell in 2 years (assuming the development is finished on time), you may still come out ahead in terms of selling the property vs paying someone else's mortgage.