Hi Scott,Thank you for sharing your ideas!

I have no idea about Long Beach - but I have plenty of clients buying in Tampa with similar rates who are turning profits even with management.

We think we can break even with a conventional sale but have no idea.

Franklin Home Store and Vacasa are 2 local ones I found with a quick google search and I have no idea what they charge.If you want to consider the self-managing route, DM me and I can walk through the details.

I have no idea who sent it. 

I'm eager to connect with like-minded investors, soak up as much knowledge as possible, and turn ideas into action. 

It’s always a good idea to document the conversation too, even if it’s just jotting down the details for your records.If they don’t take the warning seriously, you’ve got options.

Quote from @Erick Pena: A "good" rental property is one that covers all expenses (mortgage, taxes, insurance, maintenance, property management fees, and any other costs) and still leave a surplus (commonly referred to as cash flow).Calculate cash flow as: Cash Flow = Rental Income − Operating Expenses − DebtThere's much more to it, but that's the basic idea.

@Brad Kanouse I have an idea that doesn't involve drawing from your IRA.

You may want to first explore cities that you are already familiar with.Think of cities where you grew up, went to school, like to vacation to or see family.You will have a better idea of what the good / bad parts of town than a brand new city that you are unfamiliar with.Best of luck.