The way that I think about these things is as follows: what things will hurt the value of the property and/or annoy the neighbors and/or get me fined if I assign to the tenants and they don't do it.1.

Do this for 1 year and you will make way more than most new agents.Once you go F-T, 2 hours/day for lead gen/marketing/follow-up should be your norm or minimum.3.

So, as you see you should never purchase just because ( some ignorant/ guru) said you should follow this 1% rule. 

You can't have a 3 month vacancy followed by two months occupancy marked on the calendar. 

Following - I'm also based in California

Typically you do not need to give 60 day notice, more like 3 days....law says one thing, but judges may not always follow the law, so I say send it to the tenant, send another certified with return receipt, AND post it on the back the of the front door or give it to them in person.   

There are rules to follow!

The number of private landlords sued for more than their insurance will cover is astronomically low.The best protection: follow the law, and treat your tenants honestly.

@Pascal Enohnyaket I would argue that Winter is the best time to start a BRRRR followed by Spring.

I'm not really following you on your last 2 ideas.