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I have always been passionate about creating quality homes that enhance communities and provide families with exceptional living spaces.

Also, there seems to be high risk of tornadoes/high winds - looked around for data.

Selling the property the same day for $50,000 presented a unique investment opportunity with minimal risk and high returns.

Competition is high and operation cost is high .My property is in California, so wanted to get ideas from owners who were in my shoes.Any suggestions appreciated.Thanks.

If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing.

After experiencing different types of inspections with all kinds of properties from custom builds to existing, it all depends on your end goal , I highly suggest you reach out to a team, really strong team such as @Jorge Vazquez.

if you can build at 50% of after value I'd hire you and I build the cheapest of anyone I know in our market and minimum rates. there's 3 builders that build at our rate. only place I can get us to 50% equity is in miami florida and that is new construction that is selling at $1000 per square foot and up and high density 300+ unit underwriting with incredible economies of scale. columbus has lower construction costs but lower exit. we focus on urban core. my best suggestion is look at urban not suburban for higher valuations. you can't control what new construction appraises at so do it in less risky areas. 

If you were to put aside the money that would go to extra payments, what interest rates would you get on that (ie would it make more money sitting in a high yield savings account instead of paying down a low interest rate mortgage)? 

I'm tired of wasting so much time on dead leads.. does anyone have a good way to get decent leads of high motivated sellers?