Of those that do own a 2nd home near Los Angeles, many of those homes are weekend get away homes which are typically smaller than what they live in daily.  

It depends on your goals, I would say outsource the management & hold the asset as nobody has regretted owning real estate on a long term basis. 

It’s getting to a point where a new reason for an LLC or state where a LLC should be formed  comes to life in these forums on a daily basis.

What is your basis in the project?  

Sometimes looking at properties solely on the basis of current cash flow can be short sighted.

Do any of you use any app to do tenant placement on ad-hoc basis?

Highest accuracy in the business as they actually update their data daily.

Most fields to become world class at something take 5 to 10 years of consistent work and improvement on a daily basis.Today about 21 years in with commercial real estate I have tons of business and also properties I can purchase.

Credit score does matter but they will lend on a per property basis out of your available LOC once they approve a line...again mostly based on your available cash and credit score.

And most people don't understand that S8 rents can change, usually on an annual basis as tenants are reassessed.How bad can it change?