You kind of have to pick a lane - do you want income or 4 units in 4 years?

One thing that hasn't been brought up is if you put a property in an LLC, it MAY be subject to California Rent Control, even if it is a single family home.

We also team up with great interior designers who can boost revenue too.

The rehab expenses don't line up but they are not stealing, I would suggest having a zoom call or sit down with their PM or account manager to see what is not lining up and where you see issues compared to what they have on their sheet. 

It's nothing like fancy pants hanging around kitchen stores picking out just the right cabinet door and handle pulls.

I'm out West at the moment, but will probably be returning to Tokyo before too much longer.At the risk of being contrarian, after picking up a couple of investment properties in Japan (one Tokyo, one outskirts), I shifted to a strategy of only investing in the US. 

Not sure if you have another property manager lined up but check out Rental Guys Property Management.

It is up to you to accept it, ignore it, or whatever else you want to do with the fact that what you are doing is not correct.What you do with that info is up to you.Don't come here challenging me to prove it.

-why not pick a market closer to home? 

Investors who are active in gathering data on local trends while working with knowledgeable agents are able to pick neighbourhoods poised for growth and also comprehend how to best mitigate their risks as they prepare to maximize their return.Myth 3: Distressed Properties Are in Bad LocationsAnother misconception is that distressed properties only exist in bad neighborhoods.