We've had to keep lowering the price to where we're currently listing at $4,295/mo, which is generating some interest. 

Flipping is probably a little more intense, but can still be done with a day job, but again, my average flip versus my average rental: flip has made much better returns.And as for generational wealth and handing down something to your kids... well, I guess I view it as: if I can hand my kids a $10mm trust fund held in public securities, or $10mm real estate portfolio, they are going to be pretty set either way, but a real estate portfolio will continually have costs and work, a brokerage account is a bit more set and forget, with some periodic rebalancing.

As you know property is expensive and you don't have a business running that generates revenue.

But its definitely one of the three issues.  500k houses should generate at least 10% of revenue all day long or you should sell the property there and buy somewhere else that gets that.I would actually guess if you're open to all areas, you can find something that hits the 12 to 14% revenue. 

My only hurdle is the fact that I don't know the Real Estate Investing industry that well, so I don't know where or how to find the right documents for my wholesaling transactions.I've began generating pre-foreclosure leads, which I am able to filter out just ones with high equity, owner occupied, and no auction date, yet.

Consider a bigger cabin if you want to try to grab a huge equity capture over the next 2 or 3 three years.  2,000 sq ft cabins that were generating 120k a year gross and selling for 850k to 875k are now hitting 85k to 100k and going for 675k to 725k. 

Income generated from within CA has to be reported in CA.

While I'm not entirely discouraged, I feel like I've invested significant resources (LLC, website, domain) without securing a deal that generates cash flow.Any advice or guidance would be greatly appreciated. 

We recently completed a study on MTRs, which revealed that MTRs are likely to generate more than $1/SF above long-term rentals.

Purchase price: $420,000 Cash invested: $15,000 This buy-and-hold property generates a steady cash flow, with a gross monthly rent of $3,900.