That's at least another $3 psf, what happens if it needs moderate foundation work, thats another 3-4$ psf at least.

For your first few properties, I'd recommend going for a property that only needs light-moderate rehab, as you'll need a higher down payment and have less financing options if the rehab budget is heavy (as in, if the rehab is more than the purchase price, or there's significant construction needed). 

Hello,I have moderate experience in investment residential rental properties process, and wish to learn more about LAND PURCHASE PROCESS - completely new area to me.Please assist if there is any reference, book, training etc.. that could help attain insight based on current laws.It is not known to me:a.

@Vladimir KirichenkoThe purposes of the RA-1, RA-2, RA-3, RA-4, and RA-5 zones are to:(a) Permit flexibility of design by permitting all types of urban residential development if they conform to the height, density, and area requirements established for these districts; and(b) Permit the construction of those institutional and semi-public buildings that would be compatible with adjoining residential uses and that are excluded from the more restrictive residential zones.300.2 The RA-1 zone provides for areas predominantly developed with low- to moderate-density development, including detached dwellings, rowhouses, and low-rise apartments.300.3 The RA-2 zone provides for areas developed with predominantly moderate- density residential.300.4 The RA-3 zone provides for areas developed with predominantly medium-density residential.300.5 The RA-4 zone provides for areas developed with predominantly medium- to high-density residential.300.6 The RA-5 zone provides for areas developed with predominantly high-density residential.SOURCE: Final Rulemaking published at 63 DCR 2447 (March 4, 2016 – Part 2).

Any violation of this policy will be seen as a breach of this Agreement and Landlord will be entitled to all remedies allowable by law including eviction.f)Motor Vehicles, Parking, Garagesi)Washing vehicles on premises is permitted.ii)Repairing vehicles on premises is NOT permitted.iii)No parking on lawns.g)Waterbeds – may be permitted ONLY with express written permission of Landlord AND with written proof of renter’s insurance covering all damage that may result from waterbed.h)Painting/decorating – Painting is NOT allowed.Decorations may be hung on the walls using 3M Command strips, or small nails that require only moderate spackling to fill once the nail is removed.

CA has historically been a momentum state, where prices move moderately, or more, depending on market factors.

It is a predominantly residential area with a moderate Southern California climate, making it a comfortable place to live for its residents.2.

So you got to get to quality, yet moderate priced contractors. 

Interesting to see 19133 as the only moderate area.

A moderately intelligent homeowner, and/or one represented by an agent, will absolutely prefer or require real proof of actual funds.I am not a wholesaler (trust me on this :)) but I expect that your chances of closing an assignment-type deal with someone savvy enough to demand a POF latter are very, very slim, and you should probably just move on.