CA is brutal when it comes to taxes.I don't give tax or legal advice, but many people believe that holding the property in your name and having a good umbrella policy is a good solution.

Where would you find a good mentor to fund the emd and down.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.

It’s a good plan, to me at least.

No legal advice here, other than get good legal counsel on those two matters. 

I would focus on REALLY GOOD Realtor. 

But you should have a good idea of when that will come due and if you can finance it.

Good luck on your future! 

Good luck.