Since the original loan remains in the seller’s name, you may need a nominee interest allocation to deduct mortgage interest, as the Form 1098 will likely be issued to the seller.

It is required by the law and the Code of Ethics.2) There is no such thing as not going through your brokerage when you have a license.

Pick up the phone or stop by local code enforcement offices to make sure that you have a crystal clear understanding of local laws and regulations.

Take courses or read books on real estate principles, real estate law, and real estate finance.  

I would read up on "Squatters Rights" laws and how long a typical eviction takes to execute.

The issue there is the current prices and CA laws - for the past year I've been struggling to find a property that's somewhat turnkey and that would at least break even...

For instance, said property manager manages maintenance issues, problems that arise during bookings, basically anything that needs a physical person at the property, while I manage the rest?

You have a number of issues in your post unfortunately.

Issues keep coming up and the students asked MF Capital to help with the $50k extra the lender is requiring.

The issue I see is that market has historical appreciation below average (not bad, but slightly poor).