I own and self-manage a property that recently had two drip valves break causing excessive water usage for January, February and March.

Most flippers loose money on their first few flips til they learn what they are doing.Buy and hold is a much more forgiving strategy.

I partially jumped in to just keep busy until i figured things out, partially to scratch that itch of REI as maybe I'd get a step closer to doing, either way nothing to loose.

California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.

Very rare grandma is getting kicked out of her pristine house when she is down on her luck and loosing all her equity. 

Hopefully your sale concluded with no hiccups a long time ago.Still, I didn't see anyone really address the questions and since I'm here, I'm the broker for a "flat fee" brokerage, and I have a few minutes so I thought I'd clear the air (responding to your post will shake some cobwebs loose and help me generate some new content for our website too, so there's that).

I am aiming for a home between 150-250k, which i can afford if all hell breaks loose, at a 5% conventional 30 year term loan (unless a lender or someone else can suggest me a better loan) My question is what are the minimum requirements for obtaining such a home (capital wise, credit score wise, salary wise) Who can i specifically talk to for these numbers and help me understand tenant demand, areas, and more specific information about my market?

The concept here is to get to the point where your tenants pay for your housing expenses, which should give you some excess income to save and invest.These initial steps could get you to a point where you have a few doors and maybe even have your tenants covering your own housing expenses.Think carefully about selling, it seems counter-productive if you want to be an investor.

Don't loose it for $5000

I like the tighten those screws a bit first, in case the factory left them loose.