It's successful in high-cost markets like Southern California but faces challenges like high entry costs and local regulations.

It seems reasonable, but be sure that only your contractor is handling any of the work.

Challenges?

The minimum down payment for a property in this price range would be roughly $27K.That said, you also need to account for bank closing costs, inspection costs, appraisal, attorney fee, and title costs.Your scenario may require a seller's concession to account for these additional expenses.Investing with $50K is totally possible in this market but your journey may be met by challenges i.e.

Challenges?

Challenges?

Challenges?

(I understand this may just be a term you used, but if your agent is a Realtor, I would question their ability to handle your listing at this scale and price point).2.

Challenges?

Are there any red flags or challenges specific to this neighborhood that I should keep in mind?