The only issue we have run into is the prices and bidding wars.Every single home we have looked at for personal use or an investment seems to have 5+ offers and go MUCH over asking.We are currently looking at Bay Park / Clairemont / Carlsbad / Oceanside. 

Hi Randall-Congratulations on buying a rental property well back in 2020.I am sorry to hear the property is now cashflow negative $200 a month.Your question is should you sell or continue to keep it with the negative cashflow.Depends on your personal goals and if being negative $200 a month plus any unexpected repairs or vacancies is affordable to you, but if you can solve the negative cashflow by turning the property into a furnished mid-term rental, for example, your future self may thank you.To Your Success!

As far as I know the prices have continued to be stable or go up.

There are so many veterans who have carved nice paths in real estate investing all over the site and as guests on podcasts that you can learn from as well.

If it's managed well by a professional, you are more likely to succeed, grow an appreciation for it, and maybe take over management some day. 

I want to learn how to do this the right way, without coming across as overly focused on profits.If you have any tips or experiences to share, I’d be incredibly grateful.

Quote from @Briley Roe:  yes those fees are very high as you have a broker fee and other fees for a loan little over $100k at 6+ points. 

My grandfather used this truth to subdivide & sell most of his farmland in rural MA and sustain his family comfortably over the years.  

It took the owner over 2 years but he has the permits now.

The tax benefits of S-corporations are widely misunderstood and over-promoted.