I understand I wouldn't get the benefit of tax deductions, but what else am I missing that makes this a good deal? 

Be conservative and understand how to walk away from an "OK deal"All the best!

Currently, I am looking to better understand the real estate market in Southern California. 

I also put my good student skills to use in understanding comps, etc.

Once you find this range you should be very close to understanding your buy box. 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

Being a broker in Western Washington and an investor in Tacoma, I completely understand the challenge of getting started in this market.

I am new in BP, and I am looking to understand where I start with learning about REI.I currently live in New York which it's not a good place to start investing.i know the difference between STR,MTR,LTR....

I totally understand this.

I'm still trying to understand your thoughts around putting money in escrow.