Dude ......this is some powerful stuff ....appreciate the blow by blow steps ....I like how you kept real about exceeding rehab  your budget portion .

I have been speaking all year by myself and with others about the power of learning from people who actually do deals and actually make real money.

I've called Indiana Power and Light a few times - they have some free services they provided reduce costs.

I'm not wired for that, however if REI can give me more power of choice, I'm all for it. 

While the process is not rocket science, it entails quite a bit more than can be covered in this forum.  

Builders pay 400-500K for tiny lots under high power transmission line near work place(whole sale).

We rent the rooms for $395 per month and it includes power, water, sewer and garbage service.

Framing is not rocket science.

This stuff is super powerful and you need a heavy duty respirator when using the Kilz oil based product.  

Therefore, in CA your purchasing power increases each and every year you own the property, compared to many out of state markets where the cash flow may look great on paper day 1 but most if not all of that is eaten up by lower quality tenants, property managers, and contractors plus prices and rents don't keep up with inflation while CapEx does so that eventually eats up more than what is left over and you end up losing purchasing power every year you own it ... it is therefore incredibly short sighted in my opinion and experience to only look at year one returns on your investment ... considering the most likely long term projections of cash flow and prices is the work of a prudent investor, not a speculator as others may claim.