Take the first step and start cold calling in your area.

Here are a few I recommend: "Rich Dad, Poor Dad" by Roberto Kiyosaki; "Set for Life" by Scott Trench; "The Unofficial Guide to Real Estate Investing" by Spencer; "The BiggerPockets Ultimate Beginners Guide" found here on BP; "The Book on Rental Property Investing" by Brandon Tuner.

.- Set your standard and don't give up, in general, in the markets that I am active, you have some interest, but people that qualify is minimum, in most cases, I would say that what Jon said about 70%-80% is accurate in my markets too.One important thing that I found is that meeting them before you do the final decision is very important, I had the opportunity to have a competing tenants one and when meeting them it makes life much easier seeing if they will care or not for your house.

I picked out what I wanted and set up the delivery dates.

Properties rented for less than 15 days a year enjoy simple tax rules, while those rented more frequently face a complex set of tax obligations.

It’s giving the advice of setting up multiple accounts for different purposes, and my question is, what banks do you currently bank with that allows you to open up multiple checking/savings account for one entity?

You are not shielded by a property manager if you sign some of the indemnification agreements I have seen although there are another set of eyes on the property. 

If your primary address is set up to your property and you sleep there once a month, that may be enough to count as "owner occupied".Hopefully this helps a little bit, I am sure there is a lender on BP that can give you a more accurate answer.

It does come with its own set of challenges, of course, and I agree that the market in Calif can be highly competitive.I see where you're coming from about wholesaling and flipping, especially for someone just starting out.

It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcast: https://www.biggerpockets.com/..Wishing you the best!