And unfortunately in the midst of my aimless pursuit of a post-college career, i was battling toxic relationships, substance abuse, and other legal battles I brought upon myself. 

@Leon Wang, if your HOA costs bring your gross rental return down below 1%/m of their purchase price (as it does in your quoted example), and its other expenses average around 50% of its rent, I believe you ARE in danger of negative cash flow!

Raising rents is a dangerous game here.

I see people all the time, myself included when I first started, that said exactly what you are saying but didn't have the systems set up to successfully protect themselves from any potential dangers.

Buying subject to an existing mortgage from a seller who has an ex-relationship with an existing occupant is super dangerous and under no circumstances would I ever engage in such a transaction again.

I have heard east side is more dangerous.  

Now asking an agent to talk through their assumptions on a renovation budget (potentially low) and their estimate of an ARV (potentially) high is a whole other level of dangerous!    

With that much rehab, the margin is already dangerously slim.

Landlords cannot rent dangerous units.

California also has radical leftist government, a great danger to investors.