However; because it's simple, doesn't mean it doesn't cost a lot, especially in California.

I'm also guessing they are from NY and have never lived outside of that city.Condos also have condo fees that while they cover some building maintenance to common areas, also cost a lot and if the condo is poorly managed, it can cause a lot of other problems.They are correct about people hitting their limit with DTI and mortgages, but that is a problem you will have anywhere.As you read through different posts on BP, you will see the wide range of places where people invest as well as the different type of rentals.

Lack of mentorship (most programs cost a lot) 

The new owner does not have to start all over.Quieting title can cost as little as $1,000 of you can find the former owner or heirs and serve lawsuit papers on them.

Generally, and with many exceptions, buying resale is far more cost effective, and yields far lower opportunity cost, as well as holding cost.  

Wells can be very manageable but cost a lot to maintain compliance - and varies state to state, whereas lagoons it's very difficult to know when their effective life is over and when they need replacement.  

For one, syndications cost a pretty penny in legal fees, so they only make sense for bigger properties.

Looking to invest in the Contra Costa County, Sacramento, and maybe even Stockton. 

What I have suggested, is a letter from an attorney, might cost a couple hundred bucks, but this should get it away from the loan servicing clerks and into the legal department moving it up the food chain quickly.While starting a SS and then moving to a note purchase might be a strategy, I think it is going to depend on who you are dealing with.

The nice thing about presenting a builder a list of items is they usually have the staff on hand to easily correct problems, so fixing things probably doesn't cost as much as a normal seller who needs to bring someone in.