Many of frustrated end-buyers that I've wanted to work with want a wholesale price..

My credit is bad but I can afford the monthly payment on a $50K property no problem because I am an online freelancer and have verifiable consistent online income plus I work full time in the real world.

I could definitely afford to get a duplex, but I would put a much larger portion of my money into that than a single family. 

So whatever you buy, you either have to make look competitive ascetically or affordable.

Insurance and using an LLC can provide you with great protection(keep you from losing big if any legal issue ever comes up) and is affordable even when starting out(even potentially free for the LLC part).

It also seems like it has the ability to grow due to its affordability and proximity to Santa Barbara.

Harvest is more likely to appreciate being the affordable alternative to living in Madison.

Then there is no way I can afford the mortgage.

It can be frustrating, which i know first hand. if you simply cannot win a bid then maybe look elsewhere or focus on properties that have been sitting for sale for a while that other people have taken their eye off of.

When the market crashed those "hot properties" that were "affordable" became total liabilities and almost unrentable, while prices in the San Francisco Bay Area dropped maybe 15% in total.