Quote from @Jordan Budke: I'm in the Southern CA area; more specifically San Diego County.

I can't say specifically since I only know what you posted, but first you need to make sure your own financial house is in order (savings, etc.) - and then for a property, you need down payment + closing costs + reserves.  

I would eat the costs and fix the yard and either install a sprinkler or pay a PM company to water it.

So my response is assuming you are referring to residential lending specifically. 

My partner and I are new to the game and we're jumping in in PCB - specifically Laguna beach. 

Are there any LLC-buyer specific potential pitfalls that we should be wary of?

They are specific to a specific market, actually micro-market. 

My name is Logan Stamps, and I am new to the world of real estate investing, specifically virtual wholesaling.

Do you focus on any specific areas?

Base in North County San Diego (specifically Oceanside).