Also I forgot to mention, that your local colleges, junior colleges, and skill centers has construction trades departments.  

We could still buy it discounted off of retail price, you could live in it, learn the trades and improve it over the next couple of years.The house would be on the verge of not financing FHA or maybe a 203K for the right property.

I was just looking at some units today in Pasadena (online) and saw some apartments in LA and couldn't believe what they were asking for duplexes and triplexes - but when I checked the rents ran the numbers - they penciled out - but you'd have to put 75% down to make any cash flow and were still only looking at 2 1/2% cap rate - you could probably put those same dollars in the central valley and get a 16 plex with maybe a 4 1/2 % cap rate - I've noticed a lot of out of town investors from LA,San Diego, and the Bay area.. all looking for someplace to put capital because they are getting priced out of the coastal cities.. consequently- it is making the market even tighter in Fresno and very few ( cash flowing) plexes left to invest in  - but the central valley is big and there are other cities  outside of Fresno that still have opportunities - I think as you mentioned - most of the good deals are going to found off market - so that brings in your network - I think having a deeper network and a strong marketing campaign is more important to success than hording your closing numbers. 

I would like to trade stories as well as be mentored by someone that is more experienced.Israel

When we need a new roof, foundation work, or some other big items, we can often negotiate with the vendor/trade to take their money at closing.....So they give you an invoice, you give it to title/escrow agent....when to closing happens....they pay off all the invoices and give you the balance....just like they might pay a mortgage company if you had a mortgage.

They are significantly higher now than before the recession and consequently returns have been very squeezed.

Made for a nice stopping point  until I figured out what I wanted to do.I invest in Notes so there are no consequences that others who buy property are faced with. 

After the videos were viewed by the subjects, they entered into a game in which they had to trade a fake asset for real money they had been given for the study.

Real estate investment trusts invest in properties and have a similar trading capability, like stocks.

Consequently, there's a major asset class that isn't competitive for investment allocation.