Its extremely important when running tighter margins like what you're talking about to focus on age of HVAC, water heater, appliances, roof, etc.

This can be extremely costly.We have a two step program has no waiting period at all and will end up being quite a bit cheaper then the 3 month waiting period on closing costs, rate and NO pre-payment penalty. 

California has extremely high home prices, Taxes and HOA's in some places.

The other extreme is you could be your own GC and price out the various trades you need and coordinate the schedules. 

Prices will be extremely high - I don't think most investors are buying in these areas unless you have a lot of money and plan to house hack.  

The amount of cash-flowing deals in your market is extremely low, so when you get one you should hold on to it as long as you can so you can reap the benefits of that LA appreciation especially if the property is in a good location. 

@Tom StevensonHELOC money is extremely expensive - if you buy something that is 100% financed, either entirely with the proceeds from the HELOC, or with HELOC money for the down payment and a conventional loan, you will lose money.

You can probably find an online link about how extreme temperature changes are not the ideal way to heat a home and cost more in the long run.I don't know what the local rental rules are where you are, but look them up and see if you can give her notice. 

I have two vacancies in two different markets and it has been extremely slow despite the positive feedback and price. 

Thanks in advance.Hi Vhernadette, the truth is replacing a $500k salary in just a few years is extremely ambitious, even for someone with the right mindset.