However, I have heard and read of many horror stories of landlords working with incompetent property managers who provide no real value.In attempt to avoid this issue, I am doing my due diligence and asking investors for referrals of trustworthy property manager.

I will not know that until I climb under the house and into the attic etc... for inspectionThe area is close to things and is not in a indicated crime location and has a very nice open lot area on the corner with it but again assuming the tenants stay and lease I am looking at that as a smaller issue..Thanks for bringing up the concerns but I have tried to do my due diligence but do not really know is the analyzing aspect has missed something major.

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. 

Many are also tired of homeless issues, politics, and now more than ever natural disasters. 

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

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.