Also, I would ideally like this property to be a mild fixer-upper so I can add some sweat equity to it.Regarding rental, as I am searching for properties, I am trying to figure out if I should pay a little extra to be right on the beach or a few blocks inland is ok..

Hi @ Kent HurlbertI have gone through a few and the biggest problem I have found is spending more time managing the manager than needed.It is still a bit early in the process but check out Empire Realty Services Group out of Derby NY. 

Then again, sometimes it pays to build an empire in one spot if you have a good team (cleaners, handymen, inspectors, etc.).  

Personally, I’m choosing a Galaxy, Far Far Away due to the tax incentives the Empire is giving to landlords.

If the appraised value is overstated, which I see often in land, you may be able to challenge it and bring your taxes downHope some of this helps you!

In this market of Florida, the coast in certain parts are extremely saturated and overpopulated causuing people to move further inland.  

During the last RE downturn I noticed values inland in Santa Cruz-Monterey Co fell in value quite a bit further than the higher priced coastal areas on a percentage basis.

Better schools, a little further inland (although some parts were heavily impacted by Harvey) and it's a preferred area to live by those who have the means and I'm of the opinion that there are better tenants pools in that direction.Call your insurance first and get quotes and keep an eye on taxes as they are high. 

I assume you are looking for properties only in LA and Inland empire area? 

Investing in land and infrastructure to lease to mobile home tenants, especially to those who bring their own mobile homes, is a fabulous strategy.