The loss of income during a vacancy, plus repairs and cleaning needed to make rent ready again can be some of the biggest (and often unaccounted for) costs in buy and hold properties that are not self-managed. 

Think about it, homes are the biggest purchase in the lives of the vast majority of people, unless you hang out with the private jet crowd (who buy them, not NetJets users) or if all of your friends have mega-yachts, then otherwise a home is the major purchase of their lives and we all know the extreme lengths so many big companies and makers of any product go to, spending tons of $$$ on PR, marketing, etc and it often comes down to a single word or a term related to their product. 

Craigslist is usually the money maker.  

Maybe because they are good money makers for the owners!

At least in Ontario (which seems to be very similar to California) if the landlord shares either a kitchen or a bathroom then the entire Residental Tenancy Act is thrown out the window and real courts make real decisions based on what's in your contract.

The manufactures offer them as a major money maker for them as they know the buyers will rarely if ever need to make claims.

It's hard to find a decent place to rent for under $1000 most good area there.I personally would not burn 3 units for you and a manager to live in but let's say you do.13 units x$1250 x12 = 195k gross rent.with 50% rule your noi is: $97.5kAt an 8 cap that's $1.2 million.If you use all 16 units as rentals, the number is $1.5 million arv.Keep in mind your expense are probably going to be less than 50% the first few years if you've just rehabbed all of the units.Another consideration is that a ton of new units are being built around Atlanta right now so that might make rents softer in the next few years.

If you know how to evaluate the deal maker he ran offer.

Check out some of the local groups including Charlotte Deal Maker Session to meet-up with other wholesalers and get a great idea of what's going on there.

@Jim Goebel I run an ecommerce clothing store and manage a portfolio of tech investments haha, but I fully intend to make real estate my main business.