I wish I had that in my first years and I am sure I would have avoided some pain and loss. 

Originally posted by :Deal 1  sold this week at auction for a loss, probably a $4,500 loss, this is in my profit calculation.Deal 2 Bought for 20k sold for 45 with 10k down and 35k financed for 8 years at 8%  I counted this as a 45k asset but probably should have only counted it as 35 since the 10k has been reinvested and is reflected in other assets.Deal 3, bought for 10k and foreclosed on a non performing borrower, we will be all in for under 20k, and should sell for @ 45k, maybe more if we do owner financing.  

What actions and/or credentials make a landlord an active property manager to deem rental income/loss active in CA?

My best guess would be you had carryover losses but consider the opportunity cost of burning them up. 

Most of my clients run their SFRs at a 25%-30% (excluding vacancy/credit loss) operating expense margin and most of the banks I deal with on their DSCR loans underwrite using 35%.

Quote from @Patricia Andriolo-Bull: Quote from @Henry Clark: Start Defamation of character lawsuit also loss of income.  

If you’re okay with moderate negative cash flow as a "forced savings plan," that’s fine, but I’d advise setting clear boundaries on how much loss you’re comfortable with per year.

As for heat loss along the way why does it matter?

Engage with property managers for insights on rents, expenses, or off-market opportunities, and request financial documents like rent rolls and profit/loss statements from sellers’ agents as part of due diligence.

I can afford the loss.