I am not a lawyer, but in my opinion, at your stage I would not worry about getting an LLC setup unless you have considerable assets.

In a nutshell though, yes a second mortgage (in my opinion and experience) is a great way to finance an investment property when you have excess equity in your primary residence.

In other words, I can't buy a property a month before the deed sale, via quit claim deed and be entitled to excess proceeds after the sale, unless I was the owner of title on the LAST assessment roll.Which states allows me to be entitled to excess proceeds as the owner of record at the time of the deed sale?

Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started.

Something that I think I may need help with are: picking out furniture, possibly picking up the furniture, staging the house, being there when contractors need to be there, setting up an Airbnb listing, assisting in helping me create processes, assisting in interviewing contractors and housekeeping team, etc.

Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started.

That seems excessive given that I live in a $400,000 house and pay $800 a year in California.

You seem like someone who has kept it well-maintained, which should minimize the need for excessive repairs and allow you to set aside more of that 50% rule money towards future cash reserves.It sounds like it's in a good, rentable neighborhood.  

It sounds to me like the lack of return air is a major factor. it could also be a lack of insulation in that room, or an excessively large window with single pane glass. 

He is one of these 45yr spoiled little rich kids who's parents are worth in excess of 30 million, and he thinks he can just do what ever he likes to who ever he likes, and mommy and daddy write a check, and he usually does get away with it.