Given that many people have said the average price to build in California is $200 and above per square foot, I became worried.Do you think building a 2-bedroom, 1-bathroom home measuring 550 sqft is feasible at this cost?

Our average construction time after permits is 8-10 months.

I am using the Rentometer average rate plugging in the difference between the rates.

Also the average rent per unit seems to be closer to $1100/ unit.

At 5% apr or .0001 per day  TC claims it manages 500,000 properties if average rent is $500 that equals ~$35,000 a day in interest. 

The average salary among locals is only around $15,000/yr. so not many locals would be potential buyers or even renters. 

The Average Daily Rate is $219 for a 3-bedroom 2-bathroom property.

Maybe they are in good growth areas where rents and values seemed to increase greater than average, or maybe they consistently attract good tenants, etc.

That is achievable for the average $80k BPer over that time period.

I take the average profit per deal (APD)... let's say yours is $20k.