If you have no budget and just getting  started, it has the essentials.

I don't love the idea of essentially being locked into holding them for a long time because it may take many years for them to appreciate enough to meet that premium, but I do like the idea of cash flow, low interest, and longer terms.

Pareto principle - 80% of the problems caused by 20% of the people.

Plus, with interest rates like 2.99% and 4.375%, you’re essentially borrowing money at a really low cost, especially in today’s market where rates on new loans are much higher.One thing John did that helped ease his mind was to focus on building up reserves.

This is essential to make the other two legitimate and real.

I have little confidence in what a homeowners policy /w STR rider will cover, because no other insurer I've talked to is okay with this for an (essentially) full-time STR operation. 

You will get 1000% more experience this way, for the same money, and if you go above and beyond for that flipper, they may partner with you or even pay you for your work (principle of reciprocity). 

Essentially a land flipper is actively seeking out properties to buy for a bargain and then aggressively marketing the piece of property to turn a profit.The flipped land can be sold for cash, but more commonly, flippers make money by offering the buyer financing and allowing them to pay the land off over a set period of time, with interest.

With this strategy you could be out of pocket $10K or less per deal and essentially scale at a comfortable rate without over leveraging.

It’s essential to do thorough due diligence and be ready for potential renovation costs.Starting in California makes sense since you’re local, making it easier to manage your first property.