Wishing I had bought a duplex or really any piece of property straight out of high school for a jump start but here I stand. 

I have to check on codes/laws/regulation, but I know CA is on a high of making thinks convenient to build those at the moment.

To be more specific about what i'm looking to do: My 1-2 year goal is to employ the BRRRR strategy with SFHs and Condos by buying distressed / highly undervalued properties that need work (preferably all-cash) in low crime areas with strong rental demand, renovate them within budget (again preferably all-cash) and get them rent ready before refinancing them at the highest ARV possible.

Quote from @Ben Trageser: Highly recommend Maven Cost Seg!

Even if it's a total rehab if the land bank has a property in an area where the arv's are substantially high wouldn't that be a good deal or a promising neighborhood for buy and hold.

So if conventional primary residence rates are that high, par rates on investment properties are generally higher. 

My advice would be to really focus on placing a quality tenant.

Any trusted registered agent or advice will be highly appreciated. 

Without the upside of a good neighborhood and/or quality property, I don't love it. 

: I think your profit numbers are way high.