But you don't have such a huge shortage of employees that salaries are shooting up and creating an inflationary problem.

However the financials that have thus far been provided are just a typed out PDF of gross rents and expenses. 

Gross income is what you collect from customers.

The gross income is $149K, and expenses are $55K.

It's important that you ask your lender when they lock rates, how fast they move and what qualify gross income they'll take. 

I'm fine with a low overall occupancy number if my gross revenue is where it needs to be. 

California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.

On a 90 day rental even 1/2 month takes a huge percentage of gross income, so basically you need to eliminate use of brokers, MLS, etc.  

The other "economical" areas are going to be more management heavy (think cheaper houses that are expensive in the long run) and the A/A+ neighborhoods will be very difficult to get cash flow (think Elmwood Village or Hertel Ave duplexes that are $350-400K but gross $3600/mo on the top end). 

There are also some awesome tax benefits that you can take advantage of at certain income levels when you are a W-2 employee with passive real estate investments.