The FNMA deed of trust (Section 22) has a blank before the % that gets filled in:Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale, including, but not limited to, Trustee’s fees of ____________% of the gross sale price and reasonable attorneys’ fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 

I have buy n hold from just a few years ago (in San Diego but OC would have similar returns) where I have made in excess of 5 times my investment and have pulled out my initial investment leveraging the money for additional profit therefore achieving far in excess of 5 times my investment. 

In NC, if it's something labor intensive, I hire out as I can't charge for my own labor, but I can charge, for example, excessive cleaning. 

Many great tenants would not even consider signing a 2-year lease, so you may be missing out of some of the market.From our rental criteria:FINANCIAL/CREDIT HISTORY1.No outstanding debt to previous rental property owners.2.No outstanding debt to utility companies.3.No outstanding debt in excess of $1000 that is not in a payment plan.4.No excessive monthly financial obligations - more than 20% of income.5.Lack of credit history or marginal credit history may result in additional security deposit. 6.Derogatory credit (past due accounts, collections, charge off accounts, tax liens, judgements in excess of $1000 and/or bankruptcy) may result in additional security deposit or denial.

The slab does not show signs of excessive movement which would require structural repairs at this time. 

The pictures look like they could have just put excess pressure on the hinges trying to squeeze something through, in which case they're telling the truth but still in the wrong.

You would be able to pick the best to keep for yourself and wholesale your excess to other investors. 

The excess inventory will burn off slowly and we will have 96% occupancy rates again in the near future.

One example recently, I had an issue with a tenant breaking multiple house rules (smoking, party, extra guests, late check out) and causing damage and excessive clean up.

But if you're talking about a couple of single families or smaller multi-families, I would say that having an LLC for each one is excessive and probably unnecessary.