School Districts are a key component to assessing areas to invest in.Houses in highly rated schools districts will usually have high demand.

I like that you have a thorough training/education component to start.

The other piece that is a key component in CA real estate is the benefits of Prop 13. 

All the components of your financial strategy are intertwined, but the challenge is finding an integrated way to approach them.

If they are old small homes, maybe its a good amenity to keep if you have one ( or have an RV component to the park ). 

Since that is not happening here, there is no problem.The IRA investor would, however, be subject to UDFI taxation on the leveraged component of the income they receive from the investment.  

Communication is clearly a key component that is missing here which is shocking.

Edit....Nicholas Preston forgot and incorrectly did not add other important components in the formula.

I wish there was a tool which can look into age/condition of the house, locality, demographics etc. and predict all the cost components such as vacancy, maintenance with a high confidence.

I created a shared spreadsheet he would fill in weekly with his crew’s time worked and what component of rehab they completed during that time so I could itemize charges on the bookkeeping end.