Do you and your husband have any kind of long term strategy in mind?

See what kind of leverage you can get, and what resources they will require from you. 

What kind of system is this? 

In many cases, the contractors who agree to that kind of thing are either inexperienced, desperate or scammers. 

What kind of resources do you recommend for finding a good first choice? 

Rules and restrictions, and traps that don't apply to any other kind of businesses, only the rental market.I think this puts the landlord on the defense.

Feel free to share your personal experience around these kinds of folks.Thanks, and Merry Christmas!

Not only what it's like owning rental property & all the responsibilities that come with it, but you'll also figure out if owning property is the right kind of investment for you. 

Hi Anthony-You asked about the best ways to find off-market deals for your in-laws to buy and move into and you are focussed on the Santa Barbara, CA area which I have been to and it is gorgeous.It kind of reminds me of an Ann Arbor on the ocean. :)Anyway, I like your strategy of driving and looking for houses in need of repair and sending handwritten letters and contacting rentals for the reasons you gave.

Let's see: You sell one property, and to avoid paying cap gains tax, you then reinvest those profits within 45 days into a larger "like kind" property.