The other California investors with more moderate incomes bought years ago and have built wealth from 30+ years of appreciation and small mortgages and their rental income supplements their pension or Social Security and retirement accounts. 

Also travelled 2 hours to find a security door design I saw in Orange Walk. 

With your point, it seems like living security of 'where's next' for them will be the biggest obstacle for the seller to overcome.

Folks are just trying to drum up business, some do it well, other's aren't as sophisticated about it. 

The agreement specifically allowed KeyGlee to use the End Buyer's EMD to secure the underlying contract with the actual seller... and to forfeit that EMD if the End Buyer failed to close.

If your project qualifies for EPP (Express Permit Program), then you don’t have to secure permits in the traditional way.

Look for undervalued properties.Network: Connect with local real estate agents, contractors, and other investors for insights and deals.Analyze Properties: Use the 1% rule to evaluate potential properties (monthly rent should be at least 1% of the total investment).Secure Financing: Explore different financing options like conventional loans, hard money loans, or private lenders.As for timing, if you can handle the extra responsibility, starting now could give you a head start.

Luckily, I did not include this unit in my underwriting when purchasing, so the survival of this property is not contingent on this situation.Continuing to optimize for management of the building when I move out, like moving everyone to online rent payments or adding remote accessible security cameras.Exploring opportunities to expand my portfolio—I've begun my hunt for my next 3 to 4-unit building to house hack, ideally in Lake View, North Center, or Ravenswood.This year taught me that real estate investing isn’t easy, but it’s undoubtedly worth it.

Whether you’re buying or building, focus on doing so below market value to secure immediate equity or strong cash flow potential.It's also important to thoroughly research the local market—pay attention to trends like rent potential, job growth, and population increases.

While both involve finding and properly securing a site and bringing it to full entitlement, the ground-up process includes the land piece but gets way more involved and complex to execute.The full "Monty" for ground-up development needs to include financial literacy, an explanation of metrics, and how they work.