Good MF that is renovated well in a desirable area will return 8 to 9%.

Then you need to know what their desired profit is, whether a percent or a flat dollar amount. 

If you desire a job, self manage your STRs.  

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For example, if you are looking to connect with other members near you, want to learn from people in a specific area you’d like to invest in, or have a desire to find people interested in certain topics, you could use the search feature here: https://www.biggerpockets.com/search/usersI really like the alerts feature that can quickly guide you to current topics that may be of interest: http://www.biggerpockets.com/alerts

It wouldn't produce much cashflow, but the location of the area is going to be more desirable based on the proximity to new developments in LA.

Thinking of house hacking a SFR with people that I know(3br-4br) in a desirable are, basically living for free or almost for free.

Desirability of the area for renters (access to major roadways, attractions, shopping, nice neighborhoods)2.

Good properties in better locations with credit tenants have traded at lower CAP rates in the 5's less desirable assets have been 8-10.

If you're not that good with your desired market than you need to sit.