Kevin,My advise is to seek out 2-3 independent Insurance agents (they represent multiple companies) that can write in CA. 

You probably only need 1 attorney, because of your relationship with your partner, who will represent the "seller" for title and fiduciary purposes, and as the buyer you really don't need your own unless you feel like you need to protect your interests.You absolutely should not transfer this property back to a LLC once you own it, especially in the first year as a primary residence, but also because it's completely unnecessary.

In either case, the cap rate to focus on is the acquisition cap rate which represents the UNLEVERED year 1 cash on cash yield you will receive before introducing debt payments.Given the current cost of capital, introducing -7% debt against a -4% acquisition cap rate will surely trash your after debt coc.The only way a 3 or 4% acquisition cap can work is with a healthy value add development plan.

The formula for calculating DSCR is straightforward:DSCR=NetOperatingIncome(NOI)/TotalDebtServiceNet Operating Income (NOI) represents the property's income after operating expenses.Total Debt Service includes all debt obligations, such as loan payments, property taxes, and insurance.A DSCR ratio above 1 indicates that the property's income is sufficient to cover its debt obligations, while a ratio below 1 suggests insufficient cash flow to cover debt payments.Lenders usually have specific DSCR requirements, with higher ratios indicating lower risk for the lender.

The owners, property managers and agents who specialize in rental properties represented over 1,400 doors at the June KnoxREIA meeting and this meeting could be larger.

If you don't have a realtor representing you, you can negotiate the commission as part of the sales price, at least here in Oregon.  

I have a full time job as a scientific instrument sales representative, and I am normally on the road at least three days per week.  

Questions: I'm not being represented by anyone, should I look for an agent who can represent me in these dealings?

The agent is representing both of us.

First off, they are misusing the term "pocked listing" as to real estate terms, it's buzz, no big deal, but know a pocket listing is generally illegal by RE Commission regs, where an agent simply holds the listing contract and doesn't actively work it until they come across a potential buyer, they keep the listing in their pocket.I do not advise newbies to use a listing agent to buy, in a dual agency (which was misguided in that video) the listing agent represents the seller not the buyer.