I offered 150k all cash, 100k earnest, closing 4 days or less, and only due diligence as a contingency to get someone out to see if the foundation was still functional.

I'd like to meet the guy who came up with these % rules....Your capex ("major improvements") budget is a function of the age, the condition and the replacement value of them home.

I am going to an extended family function in LA & SoCal.

Consider the local rental market - will a functioning pool allow you to get higher rent, or a better tenant?

Less people ( families) will find a 2 bedroom functional for them.   

Familiarity with the process, vendors and their functions, documents, local laws and REI terms by going through the process would be beneficial. 

You might benefit more from looking at the experiences and investing habits of high function professionals like medical professionals, professional athletes and successful business folk in other time demanding fields.  

Two things to help you find more people:1) Use the search function on BP and read through old threads.

It's all a function of the value-add. 6 Cap is not a cash flow proposition on the surface unless you can get it up to 8 or 9. 

Know your comps and visit them to not only ask what they charge but also to get a feel for the quality of the units, renovation level, curb appeal, functional obsolescence, etc.