G*d forbid something happens and there is a fire or other loss.

Quote from @Patricia Andriolo-Bull: Quote from @Henry Clark: Start Defamation of character lawsuit also loss of income.  

I can afford the loss.

What actions and/or credentials make a landlord an active property manager to deem rental income/loss active in CA?

Most of my clients run their SFRs at a 25%-30% (excluding vacancy/credit loss) operating expense margin and most of the banks I deal with on their DSCR loans underwrite using 35%.

If you’re okay with moderate negative cash flow as a "forced savings plan," that’s fine, but I’d advise setting clear boundaries on how much loss you’re comfortable with per year.

Engage with property managers for insights on rents, expenses, or off-market opportunities, and request financial documents like rent rolls and profit/loss statements from sellers’ agents as part of due diligence.

These are unnecessary middlemen that slow down transactions.

As for heat loss along the way why does it matter?

Ensure your investment pipeline justifies the fees, and consult the custodian about rollover options to avoid unnecessary expenses if investments slow.This post does not create a CPA-Client relationship.