This could mean either spending at least 500 hours actively involved in the property or ensuring your involvement exceeds that of anyone else, such as a property manager.

I was told by another investor that I will run into a seasoning problem, but i don't see how if i don't plan on refinancing.

I strongly recommend getting involved with your local REI meetup groups so you can work out your pitch with help from other landlords.I hope this doesn't come off the wrong way without tone or facial expressions behind it. 

Without my wife's direct involvement, I think some of our homes would have struggled to stay afloat.   

House needs some Interior Cosmetic Work, Wood Fence Repairs and some Plumbing Work.I want to turn and run, but I recently heard where there is a Problem, there is Opportunity.I thought this might be an interesting Case Study.Thanks for the Ideas.If they owe $180k on a $210k property and its a year+ behind then they probably owe taxes and other bills as well.

The capital stack especially in CA is VERY complex and typically involves everything and more that you mentioned.

Are there going to be banks involved, creative seller financing or all cash? 

The entirety of these cities aren't just comprised of cheap run down properties. 

@Noah Laker Will you be running the house or leasing it to a company.

I also had horrific PMs, particularly involved with a 48 unit apartment complex in Houston.