We'd rather not risk buying at the top.In addition, that 1%-2% rule Test doesn't exactly fly; it seem more like .05%!

I will also be taking my real estate license test soon.

You will understand what I mean when you watch the video and test it out.https://www.youtube.com/watch?

(Other places are about $260) The test costs $36 in FL.  

The fees should be basic; an application fee to start underwriting (I would say $500 or less is appropriate depending on the circumstances of the borrower and deal (meaning how complicated and time intensive the deal is)) and the origination fee, which can be anywhere from 1% - 2.5% for rental property  loans.

My suggestion is test the waters everywhere, but focus on where you have the best team.

Then test them and revise as needed.

I did some test ads for renting out the 911s and no probs here in LA, dudes from Europe, tourist etc is like non stop out here.

I hope to supplement my income, learn the ropes, test myself on whether or not being a landlord is for me, and in general build a catalog of properties so that I can one day transition out of working for the man and in general live a less stressed life. 

It was my understanding that previously, based on this document (that was superseded in September), net rental income for purpose of the self-sufficiency test was reduced by the greater of the appraiser's estimate for vacancies or the vacancy factor used by the jurisdictional Homeownership Center, which in California is 15% since California is covered by the Santa Ana Homeownership Center.