I started bringing donuts for their team when I would stop by to get keys from them.While this anecdote has more to do with client retention than acquisition, I still find it interesting. 

If you think you can look at 5 properties on the MLS and find a "good" investment, you are delusioned.   

Did you find out why the seller wanted to back out?

I'm not sure if you'll be able to find his contact information and I'm also not sure if I can share phone numbers on a thread so if you message me I'll connect you up.

Hi @Stacie Telles,Finding lenders that offer cash-out refinancing with minimal or no seasoning periods can be challenging, as many conventional lenders require a six-month to one-year seasoning period.

If the contractor is changing gears I would find someone else.

Looking at the numbers today (keep me honest), I believe you can still find deals with 5-6% yield (current rental state) and hope that it goes up.

Or if we'll have to find someone else to assist us.

The bad news they are finding more ways to make money off these properties.I have the bulk of my investments in LTR's and I'm happy with this.  

I would start with them.I am not based in LA, so I don't know your exact laws, but I think I can still provide some initial direction for you to find answers, and maybe offer an idea to research.