Which areas are safe enough for your family?

If things are tight, renting is always a safe choice $$-wise, because of the price of flexibility.Your plan doesn't sound bad- but there is no best plan for everyone.

@Marcus Rodger, I see every limited value in a lot fo books, especially about things like gearing and tax as the laws change frequently.In the NZ market the basic precepts are fairly simple.If you can afford to negatively gear safely and you have decide it is a safe enough strategy for you then pick the market with the highest likelihood of capital growth, which is generally, Auckland, Wellington and Hamilton, and start investing.There are markets where you can still buy cash positive in New Zealand but you need strong local knowledge and good boots on the ground to buy well in many of those smaller areas.

You need a realtor that understands this is a business (quantitative) transaction for you with the end goal of profit.

Open houses and door knocking ( farming an area ) will lead to more traditional real estate transactions.

I put a disclosure that I am the principal in the transaction not taking a fee.. and I am buying for PROFIT or LOSS  … they sign and acknowledge that.. and if they want to sell for what I want to pay .. deal is done.if your think your going to tell someone their house is worth X when its really worth Y just so you can make a big spread that is greater than your commission or tell them your not taking a commission.. then that's your choice..Although do keep in mind most wholesale deals are distressed wrecked houses that need rehab etc.. and commission are negotiable.. there is no law of charging a higher commission for tough to sell properties.. if that is what your aiming to do.. 00I worked a builder out of a 22  duplex's he had built was having a tough time selling.. he wanted 30

If she is willing to fund your next project, that is a separate decision / transaction.

I was a transactional and probate paralegal before I got into real estate and the attorneys and staff at Hanft are top notch.As far as contractors, what work specifically are you wanting to have done. 

But, Irvine is a great, safe city with good schools and community.

I will say that once you find a lender and terms you are happy with I always encourage people to move on as you have a number of other things to worry about with these types of transactions that will need your attention.