The issue there is the current prices and CA laws - for the past year I've been struggling to find a property that's somewhat turnkey and that would at least break even...

What's the most effective means of dealing with this issue?

I have no issue staying booked so whatever I am doing is working for us.

The issue is not the contract, the issue is going to be enforcing the contract, the individual who was selling this could hold this up for years and cost you tens of thousands in legal fees, and then they file bankruptcy and stall it another 5 years.

It was high rent, low entry point area but within 6 months I dealt with an eviction and electrical issues.

We manage a property that was having drain field issues for awhile, got estimates and had the owner approve one of the vendors.

You have to watch out for properties that hit 1% or higher, but have cap ex and tenant issues.

Had an issue with trying to self-permit a build a few years back that was an HPR but had an "A" and "B" designation.

The monthly payments are great, but the issue I am running into is what to do with idle cash.

The main downside is being dependent on the HOA—issues like poor management, rising fees, or unexpected assessments can hurt your investment.