The Wall Street Journal publishes an article about aver tax prep costs every year.  

You aren't far from me...I'm just down the street in Venice There are quite a few options for cash flow.

These are very common in Europe and are gaining popularity here in North America.

Account Closed  and all the land guru's you see on BP buy this stuff at tax sale then do exactly what your talking about.. it just now they charge a bunch of money to teach you how to buy mainly unbuildable landin CA there are probably 1 million parcels like this from one end of the state to the other.watch the Movie Glen Garry Glen Ross.. this was the 50's land game in FLA and very very trueMy dad got started in RE in the early 60s selling land in CA for Boise Cascade.although Boise put in streets and utls and many times a lake golf course and with Pine Mountain lake an airport.the issue was the state and county and the time would let them create 5,000 lots but a water system that would only service 500... and same with sewer.. so as environmental laws got tougher.

Popular area, competitive with Investors.

.• Safe fire or emergency exits leading to a street or hallway.

Off-street parking. 

Driver around all the streets and look for vacant houses.

As an owner occupant in Oakland I can give notice to the existing tenant (this would be difficult or impossible if you were just an investor) in the 3 bd unit and rent that to myself for market which is $4k (I pay $3.6k for a 3 bd 2 ba condo down the street with 2 parking spots in Oakland currently with my brother and this place is much larger and overall better location wise. $4k is conservative to be honest, place could probably go for $4.3k-4.5k.).

It's right across the street from a beach, and he said it's sort of like a duplex type deal.