Additionally, are there any challneges as working 40 hours job and doing Real Estates?

If you don't mind, I do have additional things I would like to ask:- Once a get a job and my first property, how do I manage my time with working at the job, planning on my property/other financial decisions and have free time for myself?

My parents are not paying me as a property manager and I don't want to be paid because I don't want to deal with California state income taxes or other additional tax burdens (and more so, because they are my parents).

From the liability/asset protection side always use licensed and insured vendors, build out a robust contract management system, make sure the owner is always listed as additional insured.

Terms for the seller 2nd have generally been 5%, interest only, 5 years.I'm only considering properties under this scenario that cashflow well immediately, hence the i/o payments, in addition to having a strong value-add element.

We have them provide the previous 2 landlords and contact info from their place of employment.

In addition you wouldn't recapture any depreciation on the property. 

This is a very technical question and most tax advisors might be hesitant to address it here not because they don't know but because it requires quite a bit of additional information.

I thought they were legit from the cute YouTube videos - 1 property I had to find a contractor and pay an additional 16k to get it rent ready - took me 6 months.

Combine this with poor ADU valuations (especially in single family zoned areas) result in hands off ADU additions costing significantly more than the value they add.