I have set my eyes on starting my career in Los Angeles, but I haven't fully committed for fear that the potential of a newbie getting washed out in a market as big and as fast-paced as LA.

The hard part is finding the lender and a 'deal' worthy of engaging a private lender. 

I'm active duty in the Navy, and as such, spend a lot of time on deployment (like I am now), I've been listening to the podcast for the last few months as I downloaded them all before I left. 

Units are rough and need rehabbing.Offered 200,000, and we are in contract.Biggest inspection issues were mold and foundation, which was affecting the roof, and a hoarder tenant Brought out a structural engineer; foundation and drainage issues $6,500-8,000.

I've been reading and researching a lot and I think I've figured out how I want to invest and a plan to do it right.

I'm a full-time musician and a long-time real estate investor (always done it part time),  I've owned a few student rentals, a duplex, a single family and I've always always rented out my basement wherever I've lived.  

He cost $3K.So it's about 5 months since winning the auction and I have drawings and a plan and I have to find a contractor. 

In Pa I recall we paid school taxes and a local tax on income.

I don't recall ever seeing any job sites shut down, yet over the last month and a half or so I have seen maybe 8-10 jobsites shut down.

That is, negotiate the best deal you can, then put them under contract with the right of entry, right to market, and a contingency such as contingent upon successful 3rd party assignment, then take each property to public auction and flip them for quick lump sum profits.