I don't leave anything to chance.If you want a copy of a sample agreement, connect with me and send me a direct message asking for my Tenant Alteration Request. 

Start by defining your sample groups. 

Below is a link to a sample Excel file found online (oddly enough, it is from Alaska Housing Finance Co).

Written by attorney investors, it's full of practical advice pertaining to management of investment property, has sample forms that can be edited, and - most importantly - they tell you what your primary state laws are and where you can read them.

Sure, maybe a handful of LA residents will pipe in w some info, but that it a small sample size and chances are they're not truly familiar with the neighborhoods you mentioned, just have an outsider's bias towards them.Go drive around.

I think a very good property manager is worth their coin, but just need to call out the sample size you're promoting.

For example, in this sample, the property generates $24,000 in gross rental income per yearStep 2: Divide the purchase price (or current market value) of the property by the gross rental income.

Sample numbers would be $50,000 price with 10% down at 7% interest over 15 years.

As you gauge their interest and amount of capital they might want to invest, put together a sample deal package and walk them through it.This will give you the opportunity to walk them through a hypothetical deal that looks similar to the type of deal you're looking for.

Anything above this price point just becomes ridiculous ($500K purchase price, $2K rent...)Here's a sample calculation that seems pretty typical.