My recommendation would be to partner with Realtor for referrals so you can spend your time on what you do best.Either way, with your criteria being so specific, you'll likely end up with quality leads and an additional income source!

You need the ability to do something with those opportunities doing rehab work and you need to be able to execute with professional quality property management. 4.

Have you stopped into the local coffee shops and bars/restaurants to speak with the residents?

Ensure that the updates are of high quality yet within budget to maximize the increase in value.When it comes to refinancing, after completing the renovations, you can refinance your home to access the created equity.

Since we're speaking CA, what do you guys think of the idea of purchasing a home in the 600s and then adding a detached ADU to rent both units out and refinancing?

Perhaps hire the PM as a second set of eyes for quality control but that should be in addition to the GC you should hire from day one. 

Some other copy & paste advice:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

If they speak softly, you do too.

Therefore even if you invest in the markets with favorable landlord tenant laws, you are still more inclined to deal with tenant headaches because of the quality of the tenant and lack of professionalism of the landlord.

Your subcontractors will work more efficiently and provide better quality work when they are not dealing with construction debris interference.3.