However, comparable sale is typically not what we look at when underwriting income producing properties.

But, through efficient property management and financial discipline, we improved the property's operation so it produces enough cashflow, which we then used to improve the apartment unit finishes.

My short term goal is to buy two rental properties in the next 18 months and my long term goal is to have income producing properties generating $10,000 per month in passive income by the time I'm 40.

Fannie Mae and Freddie Mac and what amounts to federally subsidized 30YF rates does not exist up north; those mortgages we take for granted are in no small part a "New Deal" innovation of FDR back in the 1930s.

Over the past 22 months I have completed several Southern California fix and flips in my spare time and produced a total of about $250K in profit for an average ROI of 50% annual.

There are very few markets that have produced the cash flow of San Diego.  

I've seen some produce as much as 10-15k net cash flow a yr while others are only making a few hundred.

@Michael Ealy well than I guess it makes sense for me to start there, and I know it won’t be producing huge profits, BUT, I am planning on living way below my means and just putting the money back into the properties anyway, and it’s not like I have a family to provide for yet, I’m 16 years old haha

When I moved into being an agent full time, I decided to join the market leading brokerage in my metro area, and decided to join the highest producing office of that company, and decided to measure myself against the top agents in that office.

Try looking for a property that your money can serve as a down payment that will produce some cashflow.