Focus on buying quality property in the future; the entry cost is higher but the ride is much more satisfactory if you are prepared to play the long game. 

If the California home prices dip down and your $500,000 condo become a $400,000 condo, just ride it out until it comes back, it always does.When you know more about this business and have decided on what to do, then invest.READ Rich Dad Poor Dad and pay attention to what he teaches.Good Luck!

Uber and other ride share programs have sufficed for them.

With so much riding on the appraisal, is this just too risky to get involved in? 

The obvious consequence is that I might otherwise be able to defer these costs another year, two or five if I ride it till the end. 

Ride bikes, walk, etc. and you'll learn your community and what it's like.

Otherwise, you just ride out the market for years waiting for you to build up equity and for the property to re-appreciate.I hope this helps.

Most people aren’t willing to do that so if your looking for capital (in other words you can see it and others can’t) no need in bringing someone in for The ride you just do it.

Syndication is a great tool to enable others to ride in your deals.

Other than that it depends where you are, if in TX for example wind and hail is a must, in CA not so much so know the local perils you may face and go from there.