Initially I was thinking to buy a low end condo in order to minimize expenses and use the additional cash flow toward doing rehab deals.However now I'm thinking about using my primary purchase as a 6-9 month rehab in order to kill two birds with one stone....

A good example, I feel, of an opportunity less known to RE "newbies" is transactional funding for wholesalers (back to back closing) where one could get away with minimal amount of own money, but end up investing time instead.

He will have social security and some pension, so he will have an income, one that would support a $1200 payment on a place (and have money left for other expenses, including maintenance on a place as it is new so there should be minimal).I think it would be best to have that payment locked in for the rest of his life so that if rents fluctuate he won't have to worry.

There might be ways to cut back on expenses and minimize the cash bleed.

My managed ones (nothing with my other one) have an initial pet fee to cover some flea treatment they do, it's minimal, and no pet rent as I, too, find it insulting to people with well-trained dogs.

Rent covers my expenses/mortgage and I have been using that to build up some equity, cash flow on this property is minimal.  

Anyone who is not a licensed attorney and has not engaged in a thorough consultation is only offering guidance from their own particular experiences which, while not the worst advice, is unlikely to maximize both your asset protection strategy, minimize your risk based on your personal aversion, and protect other ancillary legal matters that may be going on in your life.Before making this decision, speak with an attorney where you are located.

My two main take aways were 1) High end buyers were pulling back a bit as prices continue to rise to points above intrinsic value and uncertainty both domestically and internationally (specifically BREXIT) seems to be growing. 2) With uncertainty from BREXIT growing and London being a hotspot for international wealthy investors we may see some of that money coming to the US markets specifically San Francisco, New York, etc.While not trying to be biased he also mentioned that wealthy buyers tend to be better educated on the economics of home buying and that is why there hasn't been a noticeable slow down in the lower end markets as inventory and interest rates remain low people feel the need to jump in now.My belief is that we will see a plateau and possible pullback in pricing over the next 12 months as common sense says prices cannot rise at this level for much longer as to become unaffordable.My questions are how are so many people affording homes at these prices when wage increases seem to still be minimal?

I am interested in looking out of state in the near by states (Nevada and Arizona) as they are still drivable, minimizing travel costs but lower priced than many of the areas of Southern California.

With FB there is minimal  room for mistakes.