New Member Mike in LA - Where to Start?

[Mike Spitz]

Hi All,

I've got around $300K liquid. There are so many ideas out there, I'm not sure where to start. Ideally, I'd look to pick up cash flow positive properties that wouldn't drop too badly in a crash.  I think my niche would be somewhere with decent schools and the property is fairly rent-ready.  I worry a lot about doing rehab at a distance because I have no control and costs could go way beyond estimate. 

I own a rental in Gilbert, AZ that's done well on appreciation, but is cash flow neutral as I pay extra each month to shorten the payback period.  Is this stupid?  When I bought, I was definitely inexperienced and still am to an extent.  Still, it's been a very healthy investment.  I also have an owner carry in Vegas.

Mike