@Marvin Meng - that maxim about "If it's a real deal, you won't have trouble finding money" primarily applies to wholesalers who are trying to sell properties to investors by assigning the contract (it needs to be a real deal for the investor - if it is, someone will buy it) and to situations where you are partnering or syndicating (bringing on other investors as part owners) where you have an established track record and a good deal that people will be willing to buy into.Starting out to buy and hold or flip- you need your own capital OR you can borrow from 401k (cheapest) or credit cards (some are cheap or can be kept that way by rotating through various low interest deals) or you can borrow from family and friends and make it worth their while OR you can look for seller finance deals.  

But that doesn't apply to new construction. 

Best use of this forum is to try to figure out HOW experienced investors think, rather than WHAT they think ... then you can apply a similar thought process to figure out for yourself the answer that makes sense for you. 

However, that does not apply if you are an owner managing your own property.

You'll have to see how each State Attorney General defines and applies "gouging" buying or selling anything from the norm or taking advantage of the public......usually they are more concerned with gas prices, fire sales, going out of business sales, but they can certainly touch on real estate transactions and do (usually in larger sham transactions).

There are a lot of John Jones out there so you certainly need a way to determine which John Jones is applying.

Hoped that helped...you can also find more info on the free E-book by BP written by Brandon Turnerit seems the 1% or 2% rule will not apply to california properties at all.https://www.redfin.com/CA/Lakewood/11704-205th-St-...for this property at $550k, rent would have to be $5500 to meet the 1% rule.

But my ultimate goal is to apply the buy and hold /"BRRRR"(buy,rehab,rent, refinance and repeat.)plan to Achieve my financial freedom .

This applies to both large and small investors.

It would also amend the Truth in Lending Act with respect to minimum standards for residential mortgage loans, to prohibit, in determining whether a residential mortgage loan is a qualified mortgage, from applying to loans originated by such a person certain guidelines and regulations relating to ratios of total monthly debt to monthly income.