Not too high on the cash right now and Cali homes tend be on the higher priced side.

But if they know they are dealing directly with the owner, then they tend to fix smaller issues themselves or not worry about them at all and only call you for the bigger things. 

They are saturated with hedge funds who tend to buy anything and everything.  

Correction's coming, but it will happen elsewhere first, since real estate tends to lag the stock and money markets...

The people that are the most successful tend to be focused on one Asset class but diversify geographically.  

The longer I've let it go on, the worse it's tended to get in the past.

Wood fences they tend to just kick the boards out so steel tends to be better.

My boss knows, but he's a general contractor and I've noticed that people in that profession tend to have a favorable view of investing in RE.

Do a lot of sellers tend to come back with revised contracts?

To your last point; Yes on larger properties fewer things are left to chance and even if it costs 2x or 3x what a resi inspection would cost don't be thrown off, think of it as cheap insurance since finding out later tends to be very expensive.