The second option and the better option (my opinion), partner with a more experienced investor on the first few deals that has the contractor, system and knowledge.

Thrift stores take a lot of time to shop at, wasted time in my opinion. 

Having the knowledge of what transmutes separate property to community property may be a very important lesson for you, as well as what liability protection can be afforded by retaining assets as separate property, if any.As to the LLC, there are a variety of opinions, but you are correct that generally any LLC "doing business" in California should register with the California Secretary of State and pay the minimum $800 annual fee. 

> Many, basically get taken advantage of by those in the industry that have an incentive to keep newbies blind to new realties, just to keep their good times rolling.If someone poses an inquiry on this forum, I provide my honest opinion (which it typically that the investment is unlikely to provide a return that justifies the effort & risk).  

I'm sure there will be others with their own (and possibly conflicting) opinions, but for question #1, I always advise my clients to focus on properties in areas that 1) they currently (or previous) live in/near, 2) they travel to frequently, or 3) they have family/friends in the area.For question #2, the answer is going to depend on what you do for #1.

This is the way to start in my opinion!

Yurts are kind of a joke in my opinion.

In addition to a voucher, we require that the tenant be able to show income at least 1.5 time the monthly rent, as opposed to our regular tenants who must show 3.5 time monthly rent.Thank you for your input.In your opinion, using vast generalizations, is the additional risk managable for a brand new investor? 

When you hire a licensed professional, you’re looking for two things - expertise and legal protection.You mentioned researching the market, finding comps, reviewing disclosures, etc...Each of these steps comes with nuances and, in my opinion, takes a ton of experience to master.

I like to hear other people's opinions.