To be clear, the pay off is the principle balance plus any accrued interest and fees, etc. if the loan is behind. 

There is also repair expenses, closing costs, business license (possibly), LLC fees maybe, Insurance to protect you from claims made by tenants, vacancy and there are other expenses I'm sure I'm forgetting.  

Additionally, there is an annual $800 filing fee for each CA LLC (each year), not to mention the additional administrative requirements that must be adhered to to ensure full liability protection, and then finally the hassle of the LLC filings themselves.That seems to be a fairly significant burden to incur on a property by property basis since these are only single family rental properties that generate only about 35k in rents a year.

With rental property, the delays and fees associated with each expense payment can be a barrier.A self-directed IRA LLC will provide you with checkbook control.  

Sounds like you need to partner, or give the lead to an experienced investor for a bird dog fee...

I didn't know that closing fees and points are usually charged up front.

(For a fee, of course)

And yes, you can charge the cleaning fees to the guests, but the wear and tear on your unit from short term guests is really high.

And, God willing, after realtor fees, etc. there was a $50,000 profit.  

Ground rent owners try to collect fees they are not entitled to like late fees, some legal fees, more than three years back etc.