The only thing I'd suggest is to raise your rents unless you think you're at the top of the market.

Please give your best tips/suggestions as I embark on this journey.Thanks,Vidit

I wouldn't suggest you buy a single-family home to live in because the additional cost outweighs the benefits.

Do you have any suggestions on how to go about this?

Any suggestions?

Your argument would suggest that if I bring home $2k/month in cash flow from a rental property in LA (where I live), that's a good deal, even though I probably had to put $2M cash into it initially.

It suggests that you should aim to pay no more than 70% of the ARV (after-repair value), minus repair costs.Example: If the ARV is $300,000 and repairs cost $50,000, you should pay no more than $160,000 for the property. ($300,000 * 0.70 = $210,000 – $50,000 = $160,000).Walk the Property: Check for structural issues, roof condition, foundation, HVAC, and plumbing.

I was going through the rent control laws ( I know, should have done that before purchasing the property ), and a section stands out. https://ecode360.com/30526708#42037155Based on what I can read, the rent control chapter doesn't apply to: Dwellings of three and four units, at least one of which is occupied by one or more of the owners thereof.My understanding is that rent control doesn't apply to owner-occupied multi-units. 

Seeing out there if anyone has any reading lists or content suggestions for sales or negotiation in Real Estate.

This wasn't mentioned, but I think focusing on what you can provide outside of the home might make your property stand out more too.