I paid about $1500 in closing costs between title, appraisal, etc, but the original loan was wiped out in favor of a new lower rate. 

Any recommendations for free tools to do market research?

I highly recommend you study this, practice it, and apply it.https://www.biggerpockets.com/blog/rental-property-cash-flow...Property Details:Type: Single-family homePurchase Price: $289,900Down Payment: 20% ($57,980)Loan Amount: $231,920Interest Rate: 6.85%Loan Term: 30 yearsMonthly Mortgage Payment:Using a mortgage calculator, your principal and interest will cost $1,515 per monthRental Income:Average Rent for Single-Family Home: $2,171 per monthOperating Expenses:Property Taxes: $300 per monthInsurance: $100 per monthMaintenance and Repairs: Budgeting 5% of rental income ($109 per month)Vacancy Rate: Assuming 5% vacancy ($109 per month)Property Management Fees: If outsourced, typically 10% of rental income ($217 per month)Total Monthly Expenses:Operating Expenses: $835Mortgage Payment: $1,515Total Expenses: $2,350Net Monthly Cash Flow:Rental Income: $2,171Total Expenses: $2,350Net Cash Flow: -$179 per monthConclusion:In this scenario, the rental income of $2,171 per month does not fully cover the total monthly expenses of $2,350, resulting in a negative cash flow of $179.

-save $1k+ in taxes and fees yearly-can use the savings to get more insurance and a higher liability than the value of house. for flipping houses in California does anyone just put into sole proprietor own name and just use the $1k+ in savings for LLC costs into Insurance or use for savingor am I just being too risky. 

Most PM's in Columbus will charge you 7-10% of gross rent as PM fee's + maintenance costs. 

While this can maximize leverage and ROI, challenges include getting lender approval for seller financing, high carrying costs, and the pressure of short-term loans.

The repair was extensive and costly, requiring excavation (about 3x6 feet) to replace the broken section and clean up the mess.

Not only is it a costly and hasselsome process to establish such, but at end it's an association of 4. 

OR feel free to PM and we can talk. 

With $15-20K liquid, focus on lower-cost Midwest markets where down payments stretch further.