Reduce consumer debt, increase your income, and buy fantastic deals that cash flow.

And it is time consuming.

@Nathan G.This is my modest contribution for now, just to keep the thread going.

But if you don't need the money now, San Diego is probably as good a bet as any to outpace the national home price appreciation rates over the long term.The other option is to cash out and put your $500k of equity to work somewhere else, maybe in turn key properties in the Midwest where appreciation is a more modest 2% (every city is different - I used Chicago to come up with 2%), but your return is weighted more to cashflow than appreciation (less risky).

I have a master's degree in organizational psychology with specialization in consumer psychology.

Also check for any complaints with the BBB or the licensing board.Check references and never give them any money until all the documents are received and checked out.Hiring a contractor is serious business and, at least in California, there are protections available to the consumer.

STRs just offer consumers and property owners too much advantages. 

I bought it all cash in 2012 and it has appreciated modestly. 

Real estate is tough, expensive, time consuming, and if you aren't driven, you'll just be another person who  tries it and fails.      

I have sold property there as a realtor and I know their inspections are ridiculous and time-consuming, does this apply to wholesaling as well, any help would be appreciated.