@Ricardo NietoThe inspection contingency is designed to give you time to evaluate systems and if there are items that you want to negotiate with the seller that is the time.  

Depending on how much you are paying to Airbnb in fees and how much you are paying to have the unit cleaned and or managed, it may be possible to cash flow using Airbnb but you would need to evaluate using your Down payment, interest rate, monthly HOA etc.

Hello GregoryStudy the process for evaluating real estate property, especially for Detroit properties -you will better understand the multitude of dilapidated properties the remain in Detroit despite its targeted revitalization. 

Congrats on getting started in identifying your first investment market.I’m also in OC, so I understand the need to invest OOS and am also evaluating markets.

@Brian GeigerI went with Propstream because I thought it had stronger individual property evaluation.

In addition, most inspectors will say "looks like the roof needs to be replaced, but recommend getting a licensed contractor to evaluate". skip the middleman and get the contractor. 

@Chelsea Nichols If the property is one of a kind you would probably want to use a cost based approach of evaluating rather than a sales comparison approach using comps.

I am in the process of evaluating sub dividing a property and building a house.

Wholesaling is hard but you just need to understand your buyers they are far more likely to be flippers so you need to evaluate the deal on that basis more than as a rental, although there are buy and hold investors in SoCal. 

One big upside is that the mortgage will be evaluated based on the performance of the assets and less so your personal financial situation.