The Bay Area can feel intimidating when you see those price tags, but with your husband’s contracting skills, you’ve got a real advanatage.

So, you’re at someone else’s expertise, decision making, experience, analytical skills, information flow, managerial capacity, oversight, etc.  

Learned some negotiation skills through this deal.

You have a skillset that could be extremely useful for quick fixes and landlord issues and from there you can bridge relationships and partnerships to enhance your knowledge of real estate investing and couple your skills.

@Kenneth Jenkins you forgot to mention owners that expect a PMC to use contractors off Craigslist that are unlicensed, NOT insured and rarely have acceptable experience/skill - but, they quote the "best" price.These same owners will sue a PMC if using these types of contractors results in a tenant lawsuit.

With a 7% interest rate and high HOA fees, the key is evaluating if your skills and investments can generate higher returns elsewhere.

Having a vision for future projects like the ones you mentioned are great, but learning the ABCs of RE with a small investment (initial down payment - since you only need 3.5%-5% down on a primary) is the best way to sharpen your skills.

You'll want to work with people who are highly motivated and skilled in their field. 

A common theme amongst those who are successful scaling a real estate portfolio and affiliate real estate businesses is organization skills that allow for systems to be implemented.

Negotiating seller concessions, networking with local investors, and learning property management skills have been key to finding deals with strong long-term potential.Good luck!