Corona impacts will greatly impact this surplus but it is nice that the state had a $9B surplus.CA, over the last 10 years, had the 2nd largest net population increase of all 50 states (last I looked - I believe it to still be true). 

Quote from @Scott MacComb: I am doing my first true house flip (have remodeled plenty of houses for rental) and am trying to figure out a contract to use with a new general contractor whom I have not worked with previously. 

Based on the pricing below, the above ad wording is, as best very misleading and, at worst, is not at all true. 

That to me is true wholesale.. buy it and actually own it and then resell.

Not true. 

That data would be sales price after remodel (the true numbers some agents really don't have the experience to be comping the property), the days on market you will experience (this is great info because you want to recycle the money quickly), and resources to sell the place fast not slowly which you do not want this because this could put your holding costs extremely high and push the property to little profit or no profit. 

I keep saying it's making me a better investor and that's probably true.

Quote from @Charles Evans: You aren't crazy, but you must be honest about the true cost of ownership.

Assuming this scenario is true, I cannot see a scenario where coastal RE near Los Angeles does not have over sized appreciation.   2nd homes is not going to make a significant dent in this increased demand. best wishes

When the cash flow is too good to be true, it always is.