So your right.. someone writing 100 offers to be seriously considered in our market would need some deep EM pockets. 

So I'm diving in.My life long dreams were to own an apartment building in all 50 states or multiple vacation properties.Being in Cali, prices seem high. 

YUp schools number one driver of values for owner occ  hands down.. in some areas of the country academy's are SOP as the public school system does not cut it.not so much west coast there are private schools sure.. however nothing like in other areas of say the deep south I have invested or worked in.. its a thing  and a big thing.

I usually don't dive into the land trust on the forums, but I have a few minutes this morning and will take a stab at it.Ideal Financing Option: When you purchase properties with the intention of placing them in an LLC, you can actually use the Land Trust to enable that.

Deeper dive: 7 unit rental property, cosmetic maintenance, 5% cap rate with under market rental rates, 6% cap with a 10% increase in rents (still very competitive rental rates in a community with low rental inventory).

With auction homes, I can buy at a deep discount.

Read as many books/podcasts as you can and maybe reach out to a few of the local players to get some insight on the market prior to diving in.

I need to dive in to David's book.

If you are asking that basic of a question, i would highly recommend that you do a lot more research before putting your feet into the deep end of the water.

You are asking the right questions and the fact that you are taking your time instead of diving head first into a bad deal is the sign of an intelligent investor.