I know CA is expensive but I have heard there are some low priced areas in LA.  I

(LA is #5, Bay Area #7).  

Heidi, great job about finding more about the developer.If you're from LA, I get that you'll find that the property is inexpensive but the outskirts of Tulum isn't LA and won't be any time soon.

I see you live in LA I will fly down there and work with you for free to be a apprentice under you.

@Minh Lai - in Oklahoma we just assume that insurance will be about the same as taxes.  

East LA is another option with lower entry points near downtown (and free of rent control, unlike the City of LA and some other pockets in the county).  

If it is flat, then a good architect and structural engineer can handle this easily.Here in LA, I build new construction homes and on occasion when the numbers make sense, I will build an ADU or convert an existing detached garage to an ADU along with the construction of the new home and new garage.

I wholesale from time to time in LA.  I

Of course LA is different than New York, but I thought I'd share about two success stories I've seen with individuals purchasing laundromats in them.  

If that happens, I assume the LA is obligated to submit all such higher offers to the lender?