I think it can be profitable for seasoned real estate investors who have both the time and expertise to make sure their rehab project stays on budget, but I definitely wouldn’t recommend biting off more you can chew and doing BRRRR for your first deal.

I look forward to connecting with everyone to grow my knowledge of the industry and help others with questions should they fall in my area of expertise.

Most LLCs are set up for liability protection or similar non-tax reasons, and especially in CA, the penalties for "non authorized" practice of law are steep that a lot of CPAs will not even form the LLC for their clients. 

Smart guy with the most practical advice, some great books, and he started in California.

I know there is all this talk about the Olympics coming but on a practical basis that has no effect on you unless you do STR, which you typically can't in a rent controlled property.3.

Gradually transition to larger, higher-end projects as you gain confidence and expertise, balancing risk and reward.

You received some feedback from @Mija Aguilera who has local expertise and knowledge of the area and I am interpreting his comments as the location is viable for commercial use.

I understand the challenges and competition in this field and am willing to put in the time and effort to learn and grow.If you have any advice on how someone in my position could gain practical experience or alternative ways to get started in real estate without significant initial capital, I’d be eager to hear your thoughts.Thank you for your time! 

Then start sharing your expertise in small posts every day, at least one post.

Yet, it seems common practice for wholesalers to use this contingency to back out of the contract simply because they have not found a buyer within the inspection period.