. - Who ever told you that only 30 days notice is required does not know CA law.  

I've consulted a few times over the years with planners and with the way I buy properties, my liquidity requirements, and my concerns about about how government overspending affects the future, makes me a poor candidate for IRAs and 401(k)s with the stifling regulations.   

Most states require a RE license and or Broker’s License.

Lastly, if I was able to get this home at that price below market, are there loan options that require little to know money down, since it is at/below the 85% LTV?

Requires some pre-planning if the ceiling height exists. 

Your requirements to defer all tax are to purchase at least as much as your net sale. 

I can make the down payments in the smaller market on cash-flowing deals, but these bigger markets require 40-70k to make a deal the conventional way, and I just don't have that to invest.

It will probably require $100k plus to proceed.

I would recommend targeting 30 day minimum rentals (Most associations are 90+), allowing 12+ rentals per year (most allow 1-3), and no in-person screening for tenants required.

The Notice needs to be sent to each tenant by both proof of delivery required service from the post office as well as by certified mail to the last known address.