I've found the key to rentals is tenant selection -get it wrong and you're in for a world of hurt.

@Aaron L.i would go with Strategy 2 to build an out of state protfolio and continue to rent till you get a fair deal in LA.You should get a prop mgr who can vet the OOS property for you as well.lot of investors do take the turnkey route with build in prop mgt. ( Do check the turnkey reviews websites. lot of them are marketeers and not an actual turnkey company)you can also buy off MLS or wholesalers as long as you have a prop mgt co selected in your cash flow market.Best of Luck

Alex:Our June 19th meeting covered selecting a business entity.

I have a few properties pre selected, will define within days.I would like if experienced investors in that area could point me to proven Property Managers, good, honest and inexpensive. 

I learned in GRI class that you can go into your MLS, pick a sub division, change sold to 0-365, select all, print, and you can print a Fannie Mae 1004MC statistics  pdf report to give to your client, or for your own education. 

We would like to present 3-5 owner-financing choices/alternatives for him to select from.Does anyone have experience coming up with choices that vary along term, interest rate, purchase price, percentage down, etc.?

My business partner and I looked at several factors when selecting the Tampa and Mobile markets.

A few highlights from the description of the program:Access to a select group of top-performing real estate agents who help you through the home buying or selling experience. 

I prefer to expect to renovate the entire house, with a wise selection of improvements, finishes, and staging, and make a projection based on that.

You can go online and check the Fair Market Rents that HUD uses to the determine payment standard amounts for the Housing Choice Voucher (Section 8) program in select counties throughout the country here: https://www.huduser.gov/portal/datasets/fmr.html.