Being able to look one of these sellers in the eye and tell them that you can, as a licensed agent, either list their property or attempt to assign the contract, assuming wholesaling is legal in your state, is a huge credibility booster.2) Get an entry-level job, hustle, save as much as possible and plan to house-hack when you turn 18-21.

More than likely a blend of my money and other sources.So, I'm assuming "other sources" is equity, not debt.

Assume that i got margin with IBKR their calculation shows 5.4% and costs 21.8k per year for 400k.So assuming property is 700k with conventional loan and 670k with cash offer.I manage to find another 270k (this is what I'm asking) without paying any origination fees.

I am assuming by your post that you are financially invested and own the property. 

On paper I am only expecting to lose $1,200 for the year (assuming no cap ex expenses since I renovated everything recently).

I am assuming you have not closed on this yet.

I assumed this would be the case because the rest of what California has to offer kind of sucks.

If you're willing to have roommates, your options open much more broadly, and you can potentially assume a loan with a low interest rate. 

One would think that a bidder would pay $45,000 in my example (since they are assuming the first mortgage), but they are actually bidding $225,000.

Let's use an example of replacing a leaking kitchen faucet (assuming it can't be repaired):You can easily find out how much the materials are by going to the Home Depot website and picking one out.For labor we Googled, "How long does it take to replace a kitchen faucet" and this is the answer we got:AI Overview: Replacing a kitchen faucet can take 30 minutes to several hours, depending on the faucet's complexity and whether you're doing it yourself.