It's doable!

With your hustle, having 2-3 more rentals within the next 5 years is totally doable.

I think this is a highly doable investment scenario for your family and I recommend it.

I live in California, I know the houses are mega expensive, I wonder if wholesaling in CA is doable...

On paper what you're describing might sound doable - but it sounds like your perspective on REI is based off of knowledge of only the "good parts" Managing and owning rentals (yes, even with a PM & price point of sub $50k) comes with its own challenges and headaches. 

Account Closed is correct, absolutely do both.. especially if youre just starting out even Grant Cardone started with a SFR. but for the sake of his question lets say you have 100k saved up for a real estate endeavor TOTAL, and you find a SFR that fits the 1% ratio (100k house that brings in 1k rent) that is doable if you calculate it out that would equal a 8.2% cash on cash IF it stays at a 90% occupancy rate. on the other hand if you invest that 100k into a limited partnership with a company that invests in value add apartments will now your cash on cash can be a preferred 10% with a target of 16-20% IRR which would essentially double your money in 2-5 years.. in this scenario the SFR would take sweat equity from you and risk while only returning a measly 8% CoC while the MF would be completely passive allowing you to learn and grow without hindrance with a 10% CoCnow we are over simplifying but I hope this made sense.. cuz my brain hurts ;D

In the vaguely unlikely case that the cap rate and deal is real and there aren't any significant "gotchas," 25% down should be easily doable.

If i purchase this HOA/COA lien i am wondering what are my options when it comes to the mortgage. i know there are 4 options for sure1) Notify the lender of the situation and payoff the mortgage2) Don't do anything, rent it out and let it get foreclosed on3) Flip the property quickly as possible before it gets foreclosed on (the mortgage will get paid off)4) Sell the property as is at a slight discount to recent comps (the mortgage will get paid off)This is the one I'm not so sure about5) Notify the lender of the situation and let me continue making the payments on the mortgage for a long term rental playmy question is, is #5 doable?

If that's the case I believed it's doable but the hard thing would be to find a closing company that would be willing to take the credit card charge.

Doable?