Gives you a lot more control though that’s for sure

Totally agree, my problem is that I'm a complete control freak and think I need to have everything figured out in order to move forward but that's just not realistic.

IF you have the funds to purchase a place in LA, then you can begin looking at options around you, You also have to recognize that if you purchase a place and inherit the tenants, all the downsides that come with rent control, the eviction process and of course the time and stress that can be associated with it.

The Sub-2 to Lease Option plan is a good and creative plan, but ideally to make it work great is to get a real cheap house sub-2, fix it up, and refinance it/re-title it to your name so you can completely control the property and equity. 

There is a specific category where you can find many discussion on this topic:https://www.biggerpockets.com/forums/51-tax-legal-...Checkbook IRA LLC is a vehicle which can give you checkbook control over your IRA, depending on your investment strategy it might be good option for you.A truly self-directed Solo 401k option that Alina mentioned above is even better alternative, however it is not for everyone.

Are you willing to give up control or not?

If you improve the property, say you go from a regular property to a temperature control unit, this will allow you to increase the monthly rents and hence drive up your revenue.  

I personally hate when wholesalers play this game and send out daisy chain properties.Wholesalers in my area do this all the time and send out each others deals, etc.I won't even work with them if they aren't in direct control of the deal with the seller.

This way you and your bookkeeper can define the scope of your engagement, you don’t get surprised by any extra “hours worked”, and you have more control over your bookkeeping costs.Everyone has different pricing for this.

Talking to them about pulling a permit to approve the work already done might let them save a bit of control and you get a legal two property building.