Well LA is huge and it varies by the specific location where you will choose a market desirable finish..

This satisfies both my desire for a multi family, and my fiance's desire to feel comfortable and not feel like we're living in an apartment.The ultimate goal is to cover the mortgage, after the 50% rule, and save the cash flow for a second property in a year or so.I would love to hear from others who began in a similar fashion.

In a limited partnership, the limited partner is only liable up to his investment in the partnership.An LLC may provide you with the flexibility and protection that you desire.

Those, many times, will yield the type of return you are desiring as I know all of mine do but I also have a checklist each facility must have in terms of qualities and I never flounder from that checklist unless the seller comes down so unbelievably low that it now makes sense. 

Now you understand, why am seriously considering no money down....The property is in a highly desirable area so I intend to hold it and make it rental for 1yr; then refinance to pay the seller his equity.

There are parts of the state where it is more likely, but not in those highly desirable areas.

The house is small for the area, and the lot large (and desirable) for the area. 

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You can retire at any age you desire.

Get paid.I truly respect your apparent desire to learn the sales process, that's what it all really boils down to.