If it ends up it is his, you can typically find refurnished one cheap at used appliance store 

Minimal upkeep, industrial strength supplies at cheap prices.

They aren't cheap in Natomas by any means.

With as cheap and plentiful as cash is, I’m always curious why syndicators give up so much 

Bet your cards on living for very cheap or near free AND appreciation here in California.

There are a few factors to include, such as cost of setting up the LLC (I am in Colorado where it is cheap and easy) and asset protection.

enjoy NET 300 a month about .. in 10 years you have no debt and 30k a month net.. whats not to like.of course you have a full time job collecting said rent and maintaining the homes but your getting well compensated.. depreciation wont be much since the assets are so cheap but who cares. right ? 

@Eka Linwood Well I bought cash and won a bidding war on the property that was being sold cheap because the owner needed the funds quick for some other opportunity.

Most wholesalers try to tie up contracts for next to nothing too, so don't feel too bad about looking cheap.  

Back in the day water was cheap and more expensive to install individual lines coming from the street so many developers passed on it.