Quote from @Chris Seveney: Quote from @Eric Henson: Do you guys ever take the risk of buying a foreclosure at sheriff sale with the previous owner still living in it?

Your risk vs. reward is way off balance there. 

Do you have any other tips on "the live" in flip potential in LA? 

They mentioned how Dom helped them narrow down neighborhoods for a multi-family purchase and even flagged potential zoning issues before they made an offer.

The property has a massive 900+ sq ft attic with very tall ceilings that would make a perfect 3rd unit potentially grossing another $1000 per month. 

Basically, the further you get away from the city the more potential for cashflow, but you're also dealing with a different tenant base that may be tougher to manage.

Getting one property and cashflowing it will be a challenge. you can try seller financing but you are still going to be highly levered which just enhances the risk that you are taking on.The best way to grow is to focus on managing your rental, saving money through your W2 and crushing that - if you are a realtor you will make more crushing it as being a realtor than over leveraging real estate - then save for down payment and buy slowly. its not a rush.

Oftentimes my initial consultation call with a potential client runs 1 hr and that still doesn't give me enough time to cover everything about the STR market on O'ahu.  1.  

Seems like a low risk strategy for you to start taking action on your dreams, which is the crucial ingredient towards reaching FI. 

You need to know how to manage risk.