Are you focusing on local investments within LA County, or are you considering opportunities outside the area as well?

I've brokered a number of 1031 transactions and can help with that as well. 

Based on rent of $1,695, I think you'll be lucky to get an appraised value of $160k with a CoC return well under 2%.

However, as curiosity prodded, I looked into the degree that it is prohibitively expensive to consider just filing as a security anyway, irrespective of the pros and cons.Basically, I searched for "what are the costs for registering a security with the SEC" as well as "what are the costs for registering a syndication as a security with the SEC"Most the results produced explained something to the extent that the fee was about 150 bucks per million offered, without any other information on what would validate the explanation that filing a syndication as a security is prohibitively expensive.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

@Samuel Coronado - the challenge is that there will likely be a very small number of renters looking for a house that size, as well as that can afford a rent amount that high who won't just buy otherwise. 

@Shaun OrtizThe BRRRR is alive and well.

Looking for ways to expand my network as well as possible job opportunities. 

I would go the VA loan if you can, no pmi will help your debt ratio as well.  

Jung,Welcome to the BP forum its a great time to start as mortgage rates fall and home prices still priced well in many states.