I do not have the money to put down on a home plus make massive improvements.  

It is very hard to get these deals though as the elite contractors have built their name as the people to call when individuals want to sell their house in areas where massive rehab/upgrades can be done or that house can be razed to build a new one.

They flip and/or wholesale a few houses, get a show, shamelessly self promote themselves, then pimp their name out, sit back and collect massive fees.

I am in CA I am priced out I am going to look to a place I can buy something anything hopefully it will cash flow.. when in fact if you buy a rental and the tenant simply pays it off that's a great thing any positive cash flow over the years is icing on the cake.IN our area ( I was raised in Cupertino) this is defiantly how it works.. and even a little negative cash flow is OK because you will off set that over time with massive appreciation... and or worse case scenario the tenant paid off your 600k rental and now you have a 600k asset paid for.

My opinion is you have two options, either take massive action and submerse yourself in everything wholesaling, (there is plenty of info out there), or pay the $300 if this guy can actually show you some sort of value...material, step by step, ect.

Like you said, the cash flow is massive and you can do very well in that regard. 

I believe you also need a massive down or be an all cash buyer to cash flow enough to be worth the trouble. 

If she has anything in writing, that will throw a huge monkey wrench into everything.This could be a great property, this could be a massive disaster.

Lastly BNSF Railroad is also doing a massive land grab as well.

Here are the rents vs. here are the collected rents can make a massive difference.