It sounds a bit high imo but it really depends how much work he/she is doing.

I’ve done some highly profitable “one off” deals in my 40+ years (and a few that turned out losers!)

Is Tracy hills an easy commute from major high paying jobs?

In areas like this, you want to buy starter homes in the suburbs that are high 200s, low 300s that need a little help.

He also gets to enjoy California's low property taxes and high appreciation which has worked well for him. 

I'd highly recommend starting out with a house hack - whether it be a large single family in a good area or small multifamily. 

Soon closing on a property property cost $458k and the closing cost is really high we are doing FHA mortgage they are charging 2% of the loan plus application fee and mortgage insurance on closing for the amount of $7k and plus monthly mortgage insurance... in 2020 there was not just a thing 2% of the loan on mortgage origination loan fee! 

Lately I have found some excellent small business contractors that do great work without the high overhead.  

The last auction of treasuries also saw Russia and China buying less US debt and investor optimism is not high, and bids were like 50bps greater.

I am more focused on equity growth though, so I would like to purchase a “value add”  in a great area with a high chance of appreciation.