Although depending if the juice is worth the squeeze.

You realize this is a site for real estate investment, not how to set up LLC for small business selling dried fruits....With that said, no matter where you have your LLC it's going to be 800 min payment to the FTB in CA.

Contacting Pennymac will more than likely be less fruitful. 

She's honest, but even if she doesn't see eye to eye with your plan, she busts her behind to make your plan bear fruit. 

I believe in this way of investing, but simply not seeing the fruits of my labor in terms of returns.  

Manage the hell outta this thing (trim fat, milk it, produce fruit, etc...), save.

It seems that my most fruitful leads have come from a pre-foreclosure list.

Have multiple exits in mind starting with your first preferred method followed sequentially by the other exits prioritized if your first exit strategy isn't going to bare any fruit.

Once I had to feed the kid an entire box of fruit snacks to keep him from rummaging through the current tenant’s belongings.

Most importantly, they don't let you reap the fruit of your work until retirement age without a stiff penalty(unless you do a Roth SDIRA in limited circumstances).