It takes time to get a system but if you start off by doing it yourself, you will learn what to do and what not to do.

Then have the pest control guy talk to the tenants and tell them what to do/what not to do to keep the roaches away.

During that time you can gain steady income - good for when you need lending - and learn what the landlord experience is like, what to do, what not to do, and what areas are good to focus in. 

I did a quick poke around the other day on listsource and I would need to see exactly how to sift through the filters and whatnot.  

@David Lee Hall, III hahaha I could imagine opening up a wall to find mold and termites and what not it’s like well there goes another 10k that wasn’t factored into the Reno.. but hey I appreciate all the insight budSo for cash on cash return is there a formula you follow for rental properties ?

Any tips on what not to do or what to do?

Do I just start investing in index funds and what not, just not utilizing retirement accounts for that piece? 

You're actually doing quite well here, probably beating 4%, due to Bay Area appreciation and whatnot.

Yeah, I realize now that its all said and done that you have to go through those trials so that you learn what not to do. 

What to include, what not to consider.