I recommendyouread or listen to Rich dad poor dad on audible.com and  BP or hold that house podcastyou listen to how long term buyBUY AND HOLD COMPARES TO FLIPPINGAnd give you more time to do whatever you like toBP AND HOLD THAT HOUSEPODCASTS   to look at which is better for you and your family   In my opinion fixer uppers  can take a lot of time OUT OF YOUR DAYand be more risky as you have seen.

Upper are still there.So thing is what do you want to do?

The middle class will still continue to earn wages and because the upper class will lose wealth the gap between upper and middle class will get smaller.

@Alex Craig  very good points.I look at when I started funding turn key in 2001... by turn key I mean those who buy homes in their home market and then sell them to others who do not live in the market.. they live predominately off shore or in CA or upper east coast  IE markets were the investor trying to get started is priced out of their local markets and seek places were they can buy a home with the 20 to 30k they have saved up for a down payment.

Last week I had a seller remove upper cabinets to get an appraisal done, a few weeks ago I submitted a "freedom of information act" request for 100+ year old water records to combat a zoning mistake,  I have called/emailed/texted agents 20+ times to get a single appointment, you have no idea how much work goes into it.I did not use my license to take on clients until 18 months ago, and I can tell you it is so much more work than you can ever imagine.  

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I am expecting an IRR in the mid to upper 20's when all said and done.

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Link below:Market for Fixer-Uppers Traps Low-Income Buyers

We are wondering if there are any fixer uppers in ventura county ca and in los angeles county ca.