I am looking for a similar type California brokerage too.

this type of investing does require finding a good turnkey provider that has Boots On The Ground.  

I have tried both, I think it depends on the market you are targeting and the type of leads.

Roughly $600 per month in positive cash flow.What made you interested in investing in this type of deal?

I suspect there's lots of inventory, particularly for new folks coming into the area that find the real estate prices are much better than where they came from.Do you have a type of house you like to target?

What markets and what property type(s) would you look into first?

Of course you don't want to over pay for land, but site conditions and construction type will dictate costs....is there underpinning?

I would lean more MTR or LTR regardless of product type.

Depending on the type of replacement cost (functional, common construction, etc.) you may or may not be able to get reimbursed or replace with the exact materials that were there before. 

Thankfully we are commercial bank clients so our rates are as low as you can get in the market place for anyone who is not Lennar or DR horton or those types.