I believe it to be a little Southern California hidden treasure for cashflow, mainly class C but if you know what you are doing its a really good option to invest locally in CA with decent returns.

There are risky, but high return options like QQQ which grew 27% over the last year or on the other side / safe end, there are super secure short term US government bonds like SGOV which pays out about 4.5% in dividends. 

I’m curious to know what others think about these options.

Quote from @Heather Luu: Unfortunately, you would have to re-key the locks.Here's another option.

If they do, your best bet is a local community bank that funds these types of properties.Another option is a private lender but that money will be pretty expensive, as mentioned 10%  + 

I met with Wicked Smart today and was told they help you set up a lead sourcing system, help you structure creative financing - which is essentially lease option/purchase, subject to and owner financing....all strategies I am interested in learning more about.

I had two real options, University of Oklahoma or Oklahoma State University.

Credit is a factor as bad credit may limit options, or may have the lender require you to put 10 or 20 years of taxes and insurance into escrow. 

That said, if managing sounds overwhelming or you’re strapped for time, hiring a property manager from the start is a perfectly valid option.

I recommend that you find a trusted or recommended Mortgage Loan Originator (MLO), who can give you options for property-based loans (mostly investment loans) and they don't use your taxes but the P&L of the property.