Which probably defeats the purpose of the STR loophole, making it pointless to even attempt to claim STRs on CA returns.

That's a place where you probably will be DIY. 

Unless maybe that is counting people's $1M residences. or average price of homes in Austrialis is probably 1 mil or more. at least in the big cities

I probably spent a few hundred bucks on my contract and assignment agreement. 

It's probably best to try and make some organic connections with a local investor group or even right here on BP.

A unit renting for $700 probably can't go straight up to $1,200 overnight with no updates unless your property looks like the other ones in the area renting for $1,200 and offers similar finishes/ amenities. 

Probably needs some updating before I'd present it to a client

Not meant to critique but we flip and sell a lot and here are some things that would probably help:1.

But it's probably worth getting it permitted assuming it appears to be done right.

If they haven't learned the skills by the time they are 18, they probably won't.Here is a story about one of my children.