We are NOT handy whatsoever, so we would need to pay someone for any rehab/ongoing maintenance that would need done which is what scares me the most. 

I'll be the blasphemer, but the "2%" rule doesn't make any sense whatsoever in many parts of the country, and yours is one of them (I grew up in Orange).

Tons of deferred maintenance to cut my teeth on!

I went to the L&I site and was surprised that there is just a way to make sure people shell out money for licenses and be "legit" according to the law, but no requirement whatsoever to guarantee that the work is any good, no continuing ed courses of any kind, unless I missed something ?

The guy and his family applied (this was like pulling teeth with him) and passed.

To me, you have no recourse since you do not have any contract whatsoever.

I'm a cash-buyer and have been looking for a MFH for months w/ a 10% Cap and reasonable appreciation in a C+ or better area and am having no luck whatsoever.

Think about it ... let's say this is a nightmare tenant that their current landlord wants to get rid of, so you call for a reference, and the current landlord lies through their teeth so they can get rid of their nightmare tenant!!

You may want to run certain background checks before renting to anyone whatsoever.

The biggest hurdle for me is the rehab part where I have no experience whatsoever.