It will take time.3) Property management companies, chamber of commerce meetings, local commercial RE brokers, etc are all additional options to network and find people who do deals.

Additionally, forming a new LLC may require obtaining a new EIN and business bank account.This post does not create a CPA-Client relationship.

@Michael ReilmanI installed the Aquasource Henshaw from Lowes in all 20 units I recently rehabbed and they've been great so far, and as an added bonus they're ADA height which is awesome for bad knees!

Removing it cost us an additional $5k over our estimate.  

In addition, Pace Morby's team could have systems in place to vet the deals for which loans are sought.

Very communicative, hands on, and thorough with their property management.As some additional context, I own a few rentals in different markets and Michele's team is top notch compared to them.

If they’re underfunded, you could get hit with special assessments.Not sure about the exact contract with the tenants, but I assume if there is any additional assessment, it would be tenants’ responsibility.Since you want to stay local and focus on cash flow, commercial makes sense, but have you considered industrial or flex space? 

In addition, you would need enough working capital to pay for insurance (which will be going up a LOT in Los Angeles) and to pay for property taxes.Don't buy this unless you have substantial resources and a cash cushion to keep yourself safe.

There are cheaper one’s in D/F areas but I would be careful as those can create a laundry list of additional issues.

We're based in Tampa and, in addition to personally investing, I own a mortgage company that provides financing for tons of investors.