The educational system in the U S is extremely lacking in the field of business/economics if someone can write a book as simple as RDPD and have millions of people say that the simple concept of if you save money and invest it in appreciating/income producing assets you’ll be better off than if you spend it on unneeded toys has radically changed their life’s because they never knew of or heard of that concept before.  

I suspect your underwriting will show that RE in San Diego without leverage will not produce the return that you will desire.Note at 80% LTV, the appreciation return is 5X.  5.82% long termappreciation (the rate for this century) * 5 (leverage multiplier at 80% LTV) to the cash flow 4.8% and we get 29.1% return from appreciation. 

The claims of 1hr to collect rent, produce receipts, and deposit checks also seems like a reasonable claim if done physically and not electronically.

There is some but you FB or local event would produce more.

To maximize your tax advantages, treat 75% of the property as rental income-producing, allowing you to deduct expenses like mortgage interest, property taxes, and depreciation on that portion.

Initially, he was producing several leads per day but it quickly fell off to where he was only sending me a few per week.

Sounds like you're in the scale/harvesting time so I think you need to determine if this property is something you are happy with the cashflow it would produce as well as the time needed to manage it or hire a property manager, or is it time to take the equity and redeploy it into something more worthwhile like a higher cash flowing investment or creating higher equity in the home you buy down here.

Many of those properties don't actually produce income due to turnovers, vacancy, maintenance and damages and you're lucky if they appreciate enough to keep up with inflation.

.- The tenant buyer may decide to not exercise the option or may decide to terminate the lease early which may produce a profit less than the projected returns.- The money partner is not the only owner of the company which owns the property and thus has limited decision making over the property.

He became a contractor, worked hard, and grew a successful business that produced a lot of money.