Income fluctuates tremendously in most 1099 real estate occupations (being a Realtor included) so having that put away will be vital to your comfort and peace of mind as you get started.(1) figure out how your minimum monthly income needs (this may change as you move to a different city and get out of college life, so estimates are fine for now)(2) cut out everything extra until you've put away 6 months reserves(3) live way below your means so you have extra money to save and investGood luck and congratulations!

For more info, check out the law itself AB968: https://legiscan.com/CA/text/AB968/id/2764362 https://www.car.org/riskmanagement/qa/New-Laws/2024-New-LawsAll of the "owner-builder" folks that would get permits for work and then hire unlicensed, uninsured, discount companies to do the work for as cheap as possible will pivot. 

Is it unlikely to buy at a deep enough discount to make BRRR and PM work?

I can tell you that this is a very technical area and laws will vary tremendously from area to area.

Properties Needing Repairs: Offer to buy homes that need repairs in exchange for discounted prices or terms that reflect the repair costs.

They are often sold at a discount, but they can come with significant repair needs since they are usually sold as-is.### Due DiligenceBefore buying an REO property, conduct thorough due diligence.

If major issues or concerns are discovered, provide detailed information to the seller and either negotiate a discounted price or consider walking away from the deal.Due diligence is the backbone of successful real estate transactions.

But, unless you’ve got a unique situation or tremendous wealth, like enough to trigger an inheritance tax, it MAY fit your needs at a very reasonable cost. 

The sellers you will be talking to will typically be in a bad situation which is causing them to have to sell their house, and at a big discount.

I also max out 401k for max and ESPP for 10% discount and while it’s hard to pas up the free money (at least with the match), I know we could use that money for RE now.