These are all questions that could lead to numerous different answers.

@Joe Morelli you have some elements here correct but lets review the numbers a little:The FHA 203k loan will lend 96.5% (or 3.5% down) of the purchase price + renovations.So if you buy for $130,000 and your renovation is $50,000, then your total price is $180,000. 

Also, do you have an agent or agents that will submit these numerous low-ball offers?

This HAS become a business ranter quickly and appfolio / buildium / etc are going to have to replace cozy sooner than later for numerous reasons.

There are numerous investors who thrive in that market, but it definitely has been hard to buy out the tenants in Boyle Heights because of this backlash from the original pre-gentrified residents.

The other tenant has been there years and will be evicted for numerous reasons that the previous owner did not care to address.I plan to fix up the property over the next few months and renew the existing tenant to a higher, 1-year lease and then search for a new tenant at market rate.Feeling a bit overwhelmed, I'd like some advice on where to start with a new thorough lease and forms to use since I want to secure a new lease with the existing tenant and will need to screen for a new tenant once I evict and renovate the other unit.I am considering to join the California Apart.

My broker at the time owned numerous commercial properties and agreed to show me the ropes and I quickly realized it was the career I had been searching for. 

@Joe Splitrock We did TSP wash the walls before painting, but even after the wash and rinse they looked dingy; the smoke damage wasn't as visible but the walls looked really sad (sort of looked like the wall by my 4 year old's bed, which I have washed numerous times). 

@Heather MacVicar There are numerous and lengthy threads on them here on BO.

Do you have experience renting remote vacation properties, and if so what is your experience and what are the key elements in your mind in making a great one.