If you go through some of the deal diaries and success stories on BP, you'll find a fair amount that are homeruns out of the park, but an even higher number where people make a whopping $6,000 on a $300,000 investment (just read that one today), barely broke even or, as you might suspect, lost a crapton of money.Flipping houses is hard.  

b) Are you charging and receiving additional rent or pet fees because of the animal's presence?

This is at bare minimum $50 under market value.

Having grown up in a rather poor family, and barely learning how to balance a checkbook in my high school, I quickly decided, shortly after marriage, that it was well past time to change my family tree. 

We are buy and hold investors and we got started at 23 barely knowing anything at all and we learned through books and trial and error.

Granted I live in Pennsylvania and have NO idea what the housing market out there in Cali looks like...but that last room with just the bare bones...hmm....does it need electricity still in that room?

The land cost sounds to high for your intended purpose.And second, there will be costs not included in the builder's quote, which sounds very bare-bones.  

I would pass on this deal.The two tenants rent would barely pay the mortgage?

Hard money lenders can provide you a qualified letter or statement as proof of they bare going that route.

My big mistake was that I thought complete strangers or people I barely knew would trust me to be their Realtor.