Don’t touch a penny if it and just use it to expand your empire.  

After reading Matt Faircloth's book "Building Your Real Estate Empire using OPM" I was motivated to participate as a passive investor in these bigger projects by gaining equity in the upside of the operation.

I know the Inland Empire and even the desert areas like Victorville would be easier to buy in, but they just aren’t the most idle locations when considering my job.I like your idea of getting into an area that is in the beginning stages of gentrification (Long Beach, Inglewood, etc.) and putting in some sweat equity.

Good luck on building your flipping empire.

I have "nomad" clients that buy a new SFR in B/C areas of Oakland every 12-18 months, amassing quite the empires in the process.

Then repeat the process, until you get a rental empire.

We have always dreamed of owning a real estate empire combining a rehab/flip operation and long term rental holds.We have never invested in real estate before, but we have owned two homes.  

Anyway 2 different agents keep telling me the 60% ARV- repairs doesn't work around the Inland Empire (Southern California).

I started investing locally in Oakland in 2014 and turned $12,000 into a $11M Multifamily empire.

I have selected Empire Industries - they are a full service property management company (owned and operated by Investors) with Realty services.