If you invested $55k in a portfolio earning a healthy 8% compound interest, you'd get to $1M in just under 40 years. 

With the housing market beginning to normalize in Southern California, healthy transactions are starting to occur.

That being said I think your 143k reno budget is a healthy one and should be fine in almost all cases.

We have been making Millions in profits and a very healthy Cashflow over time.

Affordable housing is another healthy market here, though it's been tough recently with the rent moratorium.

You’ll want to know if it is this a cash flow deal, a deal geared more towards growth, or a deal that has a healthy mix of both.

I am a carpenter/natural builder, and work full time for a small yet powerful contracting company doing historic restoration, general carpentry, natural building, and new builds with a focus on energy efficiency and healthy housing.

Hence a slight inventory increase and some geographic luck is producing a lot of properties there.I am not a the sky is falling person thinking the bubble is about to pop, but a healthy correction is likely in my opinion in the next year.

I like Sherman's rules, but please keep in mind that Proximity to an Anchor institution is NOT a sure sign of a healthy neighborhood.  

I still eat through a tube but my wife has been giving me fortified liquid food by Ensure with two scoops of protein with that day's last meal.