Rates, closing costs, and points also play a huge role in making the right move and can save you extra.You also want to make sure you have multiple terms like ARM products, Interest Only, No Prepayment penalties, etc.If you want to talk REI feel free to reach out I enjoy helping when ever possible.  

My advice is to buckle down and save enough for down payment, closing costs, and emergency/rehab fund before you make another investment.

I’m gaining knowledge of costs to replace certain things in the house.

What I mean by that is for instance in a place like Newport Beach California where houses cost millions to buy there may be apartments available for 2000 a month, which is way less than the per square foot of a purchase.

Yes, there are many free resources out there, but books are one of many low-cost educational pieces that pretty much everyone agrees are worth the cost.Happy reading! 

Direct mail has a very low response rate and I mostly just see the big boys who are going 7 figures do it, who don't mind spending 10-20k+ month on blowing out towns of letters/postcards.

If you were to wait until the lease ends, can you afford to carry the costs of the property until sold?

Given that many people have said the average price to build in California is $200 and above per square foot, I became worried.Do you think building a 2-bedroom, 1-bathroom home measuring 550 sqft is feasible at this cost?

I personally don't think that will last if rates drop and people jump back in, so I'd say reinvest while prices are "low" right now. 

Things like accessibility, entertainment, lifestyle, surrounding road/property conditions make the southern part of the island low on my list.