Idle money is the quickest path to low returns and does no good for anyone.

You can ask piliminary questions to see if an applicant is worth your time too if you don't want applicants always filling out an application before a tour. 

This amount is into the 6 figure range meaning that I will need to come out of pocket with an amount greater than my initial investment in the building in the event a major earthquake would destroy the building.

Quote from @Nithin Thampi: Is there any site, company person I can pay to analyze a game property from a property management company?

Quote from @William Weston: Hello everyone my name is William.

Are you targeting a certain number of bedooms/unit (this is how S8 generally calcs the rent for each unit)?

Here is an upcoming LA meetup with 29 wholesalers going:http://www.meetup.com/Los-Angeles-Real-Estate-Deal-Maker-Sessions/events/227145543/

When I am looking for a new investment property and am strapped for cash, I typically look off-market and try and find something that can a seller is looking to sell that needs minimal repairs to be rent ready and the purchase price is 80% of the ARV this way I can use private money to buy in cash, do the repairs needed then refinance on a DSCR loan and pay off the private money loan. 

Quote from @Jason Malabute: A 1031 exchange is possible.

This is supposed to be a 1 on 1 program.