Yes, prices are high, but there is good potential for appreciation, and tenants are generally reliable and high quality. 

Initially after management fees, repairs and PMI i was losing about $250 per month.

He started with me just after retirement and I recommend you look for a handyman who is retired because they are typically less expensive and as my guy likes to say, every day is a Saturday and that means they can get repairs done quickly.

Built in the last 50 years but before 1990.Currently rented for <$7000 gross but could likely be raised to >$8000.Expenses are as follows:Taxes - $13,000/Yr or ~$1083/MoInsurance - $3100/Yr or ~$260/MoMaintenance, Repairs, Vacancy, Trash Removal - ~$1000/Mo.Now, seller wants 850k & 10% down, interest TBD.

This was a few years ago, but at that time as I recall they were looking to do more long-term property leases over owning properties and doing pretty landlord friendly leases where they would do repairs and even pay property taxes. 

We do that all the time for inspections or to make repairs. 

Then, obtain quotes from at least three actual contractors. ( insurance and all that depending on the work)You'll likely encounter three types of contractors:The Super Expensive Guy: Highly skilled but often in high demand, resulting in premium pricing.The Average Guy: Offers good quality work at a reasonable price.

@Derek Buehner Repairs made to your primary residence while living there generally aren’t tax-deductible.

And I wouldn't be surprised if Mayor Bass is removed as well....the $17 mm cut to LAFD budget and 30% of fire trucks sitting awaiting repair, it goes on and on (not all directly her fault, but hey she's where the buck stops. 

Other qualities are being a member of National Notary Association.