I spend maybe 15 min a day engaged in the operation but it has not always been that way. 

I am currently working on a website so that the real motivated sellers contact me, so i dont have to spend as much time contacting property owners who aren't motivated at all. 

As mentioned lots of additional boot money or if someone comes to me with a 1031 exchange and 250k they will be looking at a crap rural property or junk tenant with bad financing if they do not want to add any additional funds to the exchange. 

In addition, if you are buying in a remote market its appropriate to budget another 10% for property management.

You might also consider forming an LLC to manage the property-related business activities while holding the property in your name to stay within your lender’s requirements.Explore safer rental strategies: If you’re open to short-term rentals, Airbnb’s Host Guarantee provides additional liability coverage, which may offer peace of mind while keeping the property in your name.

Additionally you have to be ok with not disclosing your true intentions as for the use of the information.

In addition there are areas in Los Angeles that have stricter rent control than the state wide rent control.  

The farm is also permitted under the "dude ranch" CUP to build additional cabins or smaller buildings to use as short term rentals, or worker housing, or other options.

Additionally, if anyone has recommendations for a good CPA or attorney familiar with real estate and landlord-tenant laws in Oregon, I’d love to hear them!

Here are the numbers:Property 1:Purchase Price - 130k Current Zillow Estimate - 166kLoan Remaining - 100KCurrent Interest Rate - 5%If Refi - 6.38%Obviously at higher interest rate my EMI is gonna increase , but at same time I am adding an additional asset which would cashflow as well.