There are places that are tenant friendly and then there is California which is at another level completely.Have you thought about buying elsewhere? 

That will allow you to better place your money in areas you know can succeed whether it be in the arbitrage or ownership space.

This is the right place to start.  

I currently work with investors who are looking to begin their portfolio in turn-key real estate and manage for them on the back end so they can still enjoy their everyday lives while having a resident in place paying down their loans. 

As Vince said it is a quick guideline and won't work in most places with current interest rates and house prices. 

I have never really found BP as a place to raise significant capital rom.

Long term, turn key rental with a tenant in place paying 2450 per month.

1.Zoning and Land UseUnrestricted Areas & Mobile Homes:How can I determine if a piece of land is in an unrestricted area or suitable for placing a mobile home?

Quote from @Sakib Khan: Hey everyone,I’ve been toying with the idea of jumping into the world of rental property investing, and I thought this would be the perfect place to ask for advice.

Short term, leaving financing in place during rehab prior to resale — great strategy with limited risk to either party.