@Derick JenningsRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

It's easy to get bogged down by too much software in today's world.

I was advised today by a retired real estate professional, who is licensed, that if you offer an application to someone for a loan, you must be licenesed by the DRE.

I think real estate is very forgiving (1) over the LONG term and (2) if you're well capitalized / in a strong financial position. 

A STR is a completely different animal in my opinion, in that it requires more work and much more compromise, but financially is worth the effort. 

You are a high w2 earner, The house is worth 110k today, you are buying from your grandma for 60k in exchange for free rent for life, upside ARV of 200k.The costs of owning the house will help provide tax relief on your high w2 earnings, you are buying a great chunk of equity that will pay off in the future, and you and your grandma are doing each other solids. 

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

I just closed today on the sale of the second house and have ended the nightmare!

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

You could see an attorney or even better talk about it with your financial planner many have legal tech now that makes it essentially frictionless to get your estate work done and keep it updated.