The trades can make or break a good deal. 

Quote from @Gregory Wilson: A few things there, Brendan.First, an LLC with you as a member and your (wife, son, pal, etc.) partner as a 1% member will file a Form 1065 which is about one tenth as likely to be audited by the IRS as a Form 1040 with a Schedule E rental activity (which I presume you will attempt to show is an active business).Second, you want an LLC because when your local Alabama handyman drives his girlfriend's uninsured truck into a van load of U of A medical school interns on I-22 when he goes  to get some shingles for your roof, on your business, you don't lose everything you have or ever will have to an uninsured claim. 

You could structure a profit split or equity share where you handle project execution while they bring the funding.

Start by finding a local investor friendly agent who understands the market and has experience helping others execute the same strategy you want to follow.

My RA is simple and is auto sent by our PMS as an e-sign and filed to their folio once completed. 

Always good to trade insights with someone who knows how to work a negotiation.

There are executives that go to the Thousand Oaks area and need a place to stay. 

Could you describe the Process or Deal Analysis or execution that failed on this deal?

With an average monthly profit of about $1,175 after expenses, it’s proving to be a strong investment.If your parents sell their home and want to move in, you’d need to weigh the trade-offs—losing that steady revenue vs. the stability of a long-term tenant.

Certainly nothing ground-breaking in terms of ideas here, however I'll be very hands on (and on site) during the process to make sure that every step of the way is executed to a high standard and very carefully.Once I've hopefully developed a successful track record and gained experience, my next goal would be to move on to commercial assets (think multi-family, industrial etc) so that I can leverage my existing investor network and real estate knowledge to raise 3rd party equity and take on bigger projects.