I think you would benefit from doing some serious networking with active investors in your area and growing your sphere with like minded people.

@Andrew McManamon - as a new real estate agent you need to be focused on your sphere first.

That being said...Some of the ways I have influenced the sphere of prospective tenants I get is: 1) I don't do Craiglist.

I would door knock and talk to these owners personally but its very difficult given a large geographic location of LA.Im going after residential and commercial apartment buildings.Any tips here will be greatly appreciated, Ive worked hard making hundreds if not thousands of calls and sent out tons of letters etc,no results yet, unfortunately I dont have a sphere of influence or past customers.

Then as far as the residential space goes, your first year typically consists of working your "sphere".

I see that there have been a few posts on this topic but I'd like to know if anyone has set up (or planning to) an OZ fund?  

Are you trying to get listings in a neighborhood, do monthly follow-up to previous clients and sphere, etc.?

Sometimes the HOA fees (essential the same as our Body Corporate fees for units here in Oz) can be very high and out weigh any cashflow benefit of the rent.Getting funding can certainly be harder but not impossible. 

The issue is, to reap any tax benefits, you would have to invest in an OZ via a Qualified Opportunity Fund.

Keep in mind that I will have virtually zero sphere on influence contacts, aside from about 7 in-laws.