I find in my local area there aren't very many people that are close to my age (mid 30's) and pushing themselves to the next level.  

Contractor currently charges % on total spent which gives him no motivation to keep bids low or fight for better deals with subs/suppliers.

Rents are very low here.

Essentially, there are three options:Invest in the Bay Area: High prices, low returns.

hello BP familyMy name is Stefan Chirila and moved in California from Romania in 2011. happy to be here and finally taking  my first action and come on board.I am 32 years old, did sport at the highest level all my life, I am married and Civil Engineer, when I moved in US I started working as a labor for a small construction company(didn't have rights, and not shame about that), throughout time I learned the language and got my rights and equivalent my degrees and eventually started to work in construction management as an assistant Superintendent for a very big GC, everything is good happy with my job with my growth in US in a very short time, but always had in me the filling that I can do more then just working hard and make money for someone else, always dream about financial freedom, never actually took actions in that direction. 

Account ClosedI did a few years as a Lowes sub.

., upload them to CL, put a ridiculously low price, and watch the phone ring.

Again, not cash flow to retire on, but think of it as an investment account with pretty hands off management.Also, the fact that homes sold lower and were then rehabbed may actually help you out in 5 years if the finish level in the area was brought to a higher standard.

This means I likely won't be buying a killer deal, but I will still be paying a low-ish mortgage.

$25 per month per unit for water and sewage seems low.