I am under contract for a multi-property turnkey deal that covers a rust-belt area of central PA. 

But keep in mind that you are in CA and not in Detroit like Denzel, so he is looking at very different different market than you do and while for you it is important to not loose anything you have built, he is looking to get started and get the first project under his belt, so he can learn and many more can follow.

I have skills in PM and have one single family under my belt with the goal of acquiring a second rental. 

Go get uncomfortable for 2-3 years and buy your "home" when you have 3 - 4 rentals under your belt.

I will say, at this time (Covid-time), many lenders are tightening up their belts, as the future is a bit murky for real estate.  

The wholesaler fee is calculated by them fattening their spread as much as possible - buy for as low as possible, sell for as high as possible. 2) There are more watch outs than can be listed here, but the 2 big ones are overinflated ARV and underinflated repair costs. 3) We have and would again, but you shouldn't do this until you have many more deals under your belt.

Sounds like you are well on your way to a successful real estate career, being a realtor with five rehabs under your belt. 

@George Blower great info!

At this point - it probably makes more sense to leave grandma's house as is, and just start up RE investing with your own cash and run analysis on each property. (3) You're new at RE investing - might be a good idea to get a few under your belt before messing with grandma's house.

Once I get one under my belt, I’ll probably need to have more options.