I wouldn’t yet fit into the ultra wealthy category.

These fall into a couple of groups a.  

Hey @Marc Shin, we don't offer Netflix or any other streaming service, but folks simply log into their accounts on the Roku TV's.

To be honest, I´m in the Maintenance & Construction for corporate businesses for some US companies in Mexico and we do some Real Estate down here also, but it´s way much different than the US, so I have much to learn from a lot of people around here and as @Julio Gonzalez, I think this is pretty much the right pad and place to start and to break my fears to start all over again from scratchAlso, I´ld like to hear more from @Justin Brickman why he voted for his city, pros and cons, it will help to read from a local...As I said before, thank you all guys for taking the time to write in this post and share some experienceDo you plan to owner occupy. $40k will not get you a non owner occupied San Diego property unless you find some unlikely alternate financing.

They will make or break the investment.

Quote from @Scott Bloom: You can get a commercial grade policy from major carriers where they lump the risk across multiple properties into one policy, reducing your premiums.  

If I secure renters and show a lease agreement and deposit can I get into lower interest rate mortgage?

In option 1, all but $10k goes into equity in the property.

Such a situation is recoverable if there is enough time for a market recovery and the cash flow is at least break-even (or there is enough reserve cash to cover negative cash flow until it can turn positive). 

but keep in mind CA has higher taxes and reg fees and I’m not doing more than 1-2 flips (short timeframe flips)  a year and many years do 0 flipsDo most flippers put flips into LLC Or in personal name (sole proprietor)  in CA (where you must pay $800 yearly plus accounting and other fees $300to $600+ yearly to maintain LLC) Pros for personal name-save on taxes accounting.