Profit and loss will be a guessing game. 

Some/many lenders don't like a 2nd mortgage behind their first (like the skin in the game), however there are both bridge or permanent financing options out there allowing you to leverage anywhere from 90% CLTV - 100% CLTV, but don't expect good terms...

Have the tenants take and send pictures of any maintenance items and video chat with the repair person as needed.If you ever get in a situation where you just feel like you can't do it or don't want to do it, you can always put a PM in place at any time. 

I personally would revisit your strategy of buying a negative cash flow property in SoCal, right now.

Andrew,Good for upping your game!

In my view by doing that and making contact with persons found using the process will result in getting a lot of your questions answered.Have an Excellent 2025,Doug

I am new in this game and here to learn everything.

But not all land is fair game.

New game room, backyard turf , new appliances , paint , etc What was the outcome?

The SST doesn't apply for legal 2-flats so if you want to use FHA it's probably better to target those that maybe also have a non-conforming basement or attic unit.This is why the 5% down conventional loan is a game changer for house hackers.