The way I see it in term of risk/reward , I would do more flips in Maui/Big Island rather than in CA.With that kind of money that you have I would buy one simple STR to live in and use the rest of 5 mil to build flips empire or even hotel like suggested by someone.

I live in the inland empire san bernardino county.

Quote from @Bryant Brislin: @Raden Mantuano a lot of wholesalers seem to use Arbor One (various offices in the Inland Empire) hey brother appreciate it! 

If you decide to do buy and hold, remember that OPM is the key to building an empire.

I just wanted a humble beginning to my real estate empire.

I'm a land broker who focuses on southern California, both urban infill development sites in Los Angeles, and also "green field" development in the more suburban markets like the Inland Empire and desert markets.

I really don't want to waist anyone's time with properties that don't accurately account for rehab costs and therefore are not a great deal.

Good luck on your next deal and building your empire!

So in total it would take 14.25 years to own the houses outright and get our after expenses, passive income checks from the rental properties of $5,080/month.DilemmaAfter considering this dilemma for a while, I have come to the conclusion to take the simpler frugal approach.Although attractive, it is not my dream to build a real estate empire.

I live in Los Angeles, but it’s too expensive here, so I have been looking in the Inland empire and Bakersfield.