It sounds like its mostly wholesaling and flipping. 

Regardless of whether or not you can figure out the Prop 19 stuff this sounds like a fantastic way to get into the game.

If you have never done this before, allow someone with experience and a network to help you make a sound investment.

It sounds like you have plenty of money and a good credit score enabling you to purchase a turnkey rental property with tenant in place, and cashflowing, depending on where you are shopping.  

sounds aggressive to me, even in our market. 

There's always deals out there if you're willing to swing the bat-- sounds like you found a good one with a seller who just needed to move on from the property one way or the other, and was willing to offer a discount to do it. 

Each strategy has its own set of benefits and drawbacks, as well as potential returns and risks.Buying to Flip for Quick ProfitBenefits:Quick Returns: Flipping properties can potentially yield quick profits, especially in a hot real estate market.Minimal Holding Costs: Since the goal is to sell the property quickly, holding costs such as property taxes and maintenance expenses are minimized.Creative Freedom: Flippers have the freedom to renovate and design the property to maximize its resale value.Drawbacks:Market Volatility: Flipping is highly dependent on market conditions, and a downturn in the market can lead to reduced profits or even losses.Capital Intensive: Flipping often requires significant upfront capital for purchasing, renovating, and holding the property until it sells.Income Tax Implications: Profits from flipping are typically taxed as short-term capital gains, which may result in higher tax liabilities.Buying for Rental Income and Long-Term InvestmentAdvantages:Steady Cash Flow: Rental properties can provide a consistent stream of income through monthly rent payments.Appreciation Potential: Over time, rental properties have the potential to appreciate in value, providing long-term wealth accumulation.Tax Benefits: Rental property owners may benefit from tax deductions on mortgage interest, property taxes, and depreciation.Challenges:Tenant Management: Dealing with tenants, maintenance, and property management can be time-consuming and requires effective management skills.Market Risks: Rental income may be affected by market fluctuations and changes in rental demand.Liquidity: Unlike flipping, rental properties may not offer immediate liquidity, as selling a property can take time and incur transaction costs.Comparing Potential Returns and RisksBoth strategies offer the potential for attractive returns, but they come with different levels of risk.

This is what parents in California were doing last 3 years, gifting homes to adult children, because of Proposition 19 effective February 2021. 

If the commercial real estate market causes some banks to fail as predicted by Powell (see yahoo finance article attached) what correlation will we see in the economy as a whole? Does commercial collapse spill into Mu...

@Monica C. it sounds like you might need a new tax guy!