Be prepared to face fluctuations in the market, unexpected repairs, and tenant issues.

You may have to search a bit for the right contractor or engineer - sometimes I see one solution dominating in an area - "that is how we always do it"  Thanks for the input - yes, it sounds like the specific area this house is in is particularly bad for foundation issues.  

The issue there is the current prices and CA laws - for the past year I've been struggling to find a property that's somewhat turnkey and that would at least break even...

We issue each investor a monthly check for their % of each monthly mortgage payment. 

Do you know if this would be an issue when it comes time to having my 5 year DCA inspection in ( mid 2025) as the property is only register with them as a 4 family?

If there are any legal issues that I have to worry about etc. 

Additionally, most servicers will provide the tax documents needed at end of year (1099-INT, 1098-INT) and can also issue notices of NSF, late payments and support delinquency /default.

I self manage my few properties and have not had any issues at all with the City of Indianapolis. 

If you can find practice tests, that is my recommendation - that is what I did after taking the required time component and did not have any issues passing the test. 

I'm an independent agent here in AR and I write a lot of rental property, with ~6 preferred markets and if the properties have some issues, age, claim history etc.