The challenge you may find is what if you approve a tenant and then the deal falls through or gets delayed and you have already taken a security deposit and made a commitment to the tenant?

That helps diversify but I wouldn't go into the full scale development until you had a commitment from enough builder to at least break even on the project.  

There's certainly an undertow of greed prevalent in the world and this industry is not immune to it; and for that reason I ask, when is enough enough?

Advertise the option, but don't commit until you have either a master tenant or strong interest.

Mid city, westlake, east hollywood, south central,... these places do not improve because of the prevalence of rent control and section 8, but also because of the general incompetence of the city's administrationI'm not saying south central isn't a good investment, but it is imo highly speculative and very high maintenance, as the area is filled with bad tenants and dramas

You could use the BP calculator (5 times for free membership) or find some available online for free.The most important thing that is going to get you ahead: commit to do 1 thing at least every day that is going to get you closer to your goal of acquiring and creating wealth through real estate: read, analyze, go to open house....

I'd bet on you and people like you who have that type of focus and commitment all day long. 

Here's what I want from you guys and I figured there would be a lot of pro help for this...If you were vetting my underwhelming knowledge, too make sure that I know what I'm doing as far as at least getting a deal,maybe good, but just definitely not bad, what would be your first 5 or ten questions you would ask me and would want to make sure I knew the answer yo about the deal, or general understanding before I commit to buying my first property?

We have found that bandit signs and direct mail is almost useless down here- therefore we committed to social media at a very high level and have generated a lot of business that is untapped by using Instagram and Facebook ORGANICALLY...That's a great tip about using social media down here.

I obviously didn't recognize the hidden gem that is BiggerPockets at that time because I didn't come back until late last year when I committed to making my first real estate investment.