Looking to connect with any investors, realtors, property managers, contractors, wholesalers etc from the area :) Feel free to comment or DM!

I have a new build with Blacktip.

We want to purchase a property to begin building our rental portfolio but are unsure of the best approach.We live in Sonoma County, California, and I work in Healdsburg.

I should have mentioned that I am out of state in Colorado and I'm not connected yet to contractors that I trust to do a rehab.

Most newer wholesalers I meet are looking to do this just to build their own portfolio, hold on to the properties they want and capitalize on the ones they do not.

Avoid any self-help eviction tactics like changing locks.Maintenance: As a landlord, you’re responsible for ensuring the property meets basic health and safety standards, including working plumbing, heating, and electrical systems.Inspections: While there are no mandatory inspections required before renting, your property should comply with building codes.

Build with steel. 

I feel a loss of direction and that makes it really hard for me to focus and build.Do we keep at building a portfolio of small multi family (very abundant in my market, very rare to find anything above a triplex for sale), with plans of selling the portfolio and 1031'ing into larger properties? 

Used what I know from wholesaling to come up with the estimations The numbers is used are based on a these assumptions:- Cost to build* (2024) = 150/sqft National average, 141/sqft Tennessee Average (Source: Houzeo  https://www.houzeo.com/blog/how-much-does-it-cost-to-build-a-house-tennessee/#:~:text=The%20average%20cost%20per%20square,idea%20of%20the%20construction%20costs.)- All in Cost = Cost to build * Square foot  - Sales Price = All in Cost + (All in cost * 20%)* Covers contractor and soft cost on either fee based or cost+- Profit = (Sales price - (Sales Price * 7%))* - All in Cost   accounts for agent fees and closing cost- Initial List Price = Sales price + 10%      A buffer to test market absorption- Break Even being All in cost, point where everyone is paid except me. - List price is to test the market absorption at "x" price. 250k land + build.

This is not a market for a generic, new build, cookie cutter home in an HOA neighborhood!