I would say welcome to BP, but I'm a newbie as well :)OC is definitely a tough cookie to crack when it comes to real estate investing. there simply isn't much margin here.

She can make the distinction between: "I will manage that for you" and "I would *like* to manage that for you" (it's a BIG distinction).And the reality is similar to what @James Wise mentions, PM isn't exactly a high margin business. 

I own the construction company, have six crews running, we are already buying 1-2 house a week for flipping, and I have deals that don't that I pass up because they don't quite have enough margin for flipping, but work great in this scenario.

If you're doing a bunch of flips, the income you generate will be taxed as ordinary at your marginal rate (unless done out of a c-corp). 

When your margins are so thin, it's easy to become the slumlord who doesn't want to do anything because you don't have the extra capital to do anything.

Jay, what kind of margins must you have on those new construction builds to make it worthwhile?

Most of our loan after the fixed period head to a libor margin/index (that's changing next couple years).

Welcome, @Chris R.SoCal can be a tough nut to crack for newbies.A couple years ago I mailed out lots of letters to homeowners in LA County with no luck.Then I tried rural Kern County and got a deal from a distressed homeowner in California City.The margins were not as large as they would've been in LA or OC, but I was able to rent it out for 2 years before fixing it up and selling it for a decent gain.Also, have you considered an owner-occupied small multifamily for your first deal?

Has anyone found that fix and flips are drying up? I used to get 3-4 good deals to flip per month, now I am lucky to see 1 per month. I have recently taken a new direction which I believe the market is just now allowi...

With such a big purchase I assume that’s the best way to wholesale such a deal when you want to keep a big profit margin from scaring off the B-CI assume that you sign a regular purchase agreement and just make sure to match the terms.