I'm sure it'll be the same for you down in SoCal.Great, now it's 2 months in the future, most of those comps have closed, and you know EVERYTHING wrong with them!

On the other hand though... it kind of feels like I'm probably doing something wrong here. 

Given the consequence of being wrong (i.e. - managing a rental ends up being viewed as a "service" means we have a PT and a busted IRA) , I advise clients not to do anything that "could be a service". 

Much more likely to make a mistake and buy in the wrong area and overpay if you don't do the proper research.I generally only recommend to more seasoned investors, but it can definitely be done.

If you think you have found a $150k house for $100k you are almost assuredly wrong.

For flipping no it is not, because lets assume purchase price 470k + 27k in repairs = $497k it will probably cost at least 5% of the sale price in realtor fees and closing costs probably more so ($525k x 5%)= $26,250So $497k + 26k = $523k thus in a best case scenario you risk half a million dollars to make $2,000 if anything goes wrong you lose money, if you have to borrow you probably lose money.

If i'm not wrong, our Host, Brandon Turner has weekly webinars, I think it is a very good place to start.

Sadly, we got a little excited about the new Tools app launching that we gave you the wrong information.

You were wronged and you need to stand up and tack action to make things right for not only yourself, but every other landlord down the line.

What I like about you is that at least you realize there may be something wrong this scenario and you ask about it here.