The LA fires will drive rates up for everyone and is now a major line item expense.

Please keep us posted as you and so many in SoCal are experiencing genuine hardship (whether it's the loss of a home, belongings, jobs, etc.).

There are also other new construction homes on our street facing the same issue.So, I’m kind of stuck with this property, which is why I’m exploring ways to cut my losses and exit cleanly.

Have the tenants take and send pictures of any maintenance items and video chat with the repair person as needed.If you ever get in a situation where you just feel like you can't do it or don't want to do it, you can always put a PM in place at any time. 

I'm new as well congratulations on you're first property me and my fiance was going to start a real estate business but she has cold feet so i already have a LLC she the one who has the 820 credit score and I'm getting mine back in order we both have one property each i just loss my contract for my business so I'm thinking about using the equity from my home or turn my home it a bordering house just need some mentoring 

Without these replacement jobs, only lower-paying service sector positions will remain as area incomes fall due to the loss of higher-paying jobs, city services decline and crime increases.

You can expect turnover costs, losses due to vacancies, and other expenses.

Line Item Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $500 Business Hour Service Calls $80/hour + Materials Cost + Tax After Hour Service Calls $110/hour + Materials Cost + Tax HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Vendor Cost + 10% Oversight Fee

That loan will cost you around $800/month for 30 years.I think this improves things, and your only loss would be the cost of the equity loan and the payments you've made so far on your IRA and credit cards. 

Key items to rehab on the second home to bring the property value up for the refi, determining which lenders/servicing companies will be favorable, Identifying good properties to invest in altogether.