You will have to replace the guts of the toilet within 3 years.

@Matthew McleanBigger Pockets is a great place to find an accountant specializing in real estate taxation.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your accountant remotely to expand your options.I would also recommend looking for an accountant willing to work with you throughout the year.

Even at $2200 I don't expect to get a positive cash flow for the first year, but that's okay as long as I rent it out and learn from my mistakes for my next investments.

but keep in mind CA has higher taxes and reg fees and I’m not doing more than 1-2 flips (short timeframe flips)  a year and many years do 0 flipsDo most flippers put flips into LLC Or in personal name (sole proprietor)  in CA (where you must pay $800 yearly plus accounting and other fees $300to $600+ yearly to maintain LLC) Pros for personal name-save on taxes accounting.

Then we turn around and refinance into a 30 year fixed on step 2. 

I manage around 400 rentals with 14 years of experience and have never been sued once.

You would not need to do that quarterly, but yearly isn't terrible.

I've been listening to Bigger Pockets off and on for years but have always wanted to get into real estate investing.

We have a house in an opportunity zone in Texas that we bought in 2015, lived in for 3 years, and then made a rental in 2018.   

The rentals are scarce and rents have increased in recent years.