To make a long story short, i am told there are quite a few complexities and fees that make it only practical at scale.

Smart guy with the most practical advice, some great books, and he started in California.

He practiced that well and his son is now one of the largest developers in the country, if not the world.The nice thing for investors is that there should be a 2-3 or maybe 4 year gap in major apartment developments coming online. 

Most LLCs are set up for liability protection or similar non-tax reasons, and especially in CA, the penalties for "non authorized" practice of law are steep that a lot of CPAs will not even form the LLC for their clients. 

I know there is all this talk about the Olympics coming but on a practical basis that has no effect on you unless you do STR, which you typically can't in a rent controlled property.3.

While the “debt to equity” practice may not meet MY PERSONAL definition of “fair”, in and of itself it is not illegal, unethical, or fraudulent.Truth is if the posters warning about the subject have accurately portrayed the specific situation, there is cause for concern.  

Learn how to underwrite deals by practicing.

I understand the challenges and competition in this field and am willing to put in the time and effort to learn and grow.If you have any advice on how someone in my position could gain practical experience or alternative ways to get started in real estate without significant initial capital, I’d be eager to hear your thoughts.Thank you for your time! 

Yet, it seems common practice for wholesalers to use this contingency to back out of the contract simply because they have not found a buyer within the inspection period.

You will get convinced you can do seller finance or sub to, but it's not practical unless you are going to spend all your time doing that.