You need 500k and networks set up in 5 - 8 diff markets that work like an assembly line of options to be analyzed.If you get into 30 year products from jump street your 50 will be gone in one deal. 

The Sponsor: Track record, their experience in the asset, their assembled team, any full cycle deals.

Where small sections are built in a factory and then assembled on-site. 

There's definitely a push towards jumping into larger deals without adequate credentials based on the "team" approach concept where one can assemble a team of capital raisers, deal hunters & guarantors who all become CO-GP's. 

Assembly Bill 1771, also known as the California Housing Speculation Act, aims to change real estate tax policy to discourage investors from quickly reselling properties like single-family homes.Under the proposed bill, an additional 25% tax would be imposed on the gain from the sale of a qualified asset (including homes) within three years of the previous sale.The tax reduction is dependent on the number of years passed since the initial purchase of the qualified asset, ranging from a 20% reduction for sales occurring between 3.01 to 4 years to a 100% reduction for sales occurring more than seven years after the initial purchase.The revenues generated by this tax increase would be deposited into the Speculation Recapture Community Reinvestment Fund, which aims to support affordable housing, local governments, schools, and infrastructure projects.The bill is introduced by Assembly Member Ward, and the proposed tax changes would take effect from January 1, 2023.Assembly Member Ward argues that short-term investors in the market, including fix and flip investors, contribute to rising housing prices, limiting opportunities for Californians to purchase homes.While the bill may discourage short-term speculative transactions, it is worth noting that California's tax laws still provide certain advantages for investors, including unlimited tax write-offs and depreciation benefits.The bill is subject to legislative approval, and Assembly Member Ward will speak publicly about the bill at the San Diego County Administration Center on a specified date.Please note that this is a simplified summary of the bill and its potential impact on fix and flip investors.

I'm exploring different options for building on vacant land here in CA and am very intrigued by pre-fab home designs (Walls etc.. are assembled in a factory and shipped to site).

I would initially travel to the area for a couple weeks to meet and assemble a dependable team.

I’m currently working on assembling my team here in NC and finding the perfect fit for each role.

However, some investors are comfortable with this approach, especially if they prefer to limit their initial capital and plan to refinance a few years after purchase—particularly as discussions about the Federal Reserve lowering interest rates into 2025 continue.Ultimately, successful investing hinges on selecting a growing market, a desirable neighborhood, and assembling a strong support team.

That being said, if you buy right in Lubbock, things lease up FAST and it is known for being much easier to assemble a portfolio of cash flowing properties here than in many other markets.If you are willing to wait for the right deal and purchase based on the numbers alone, you can still find deals that will work well for your strategy.