@Daniel S.Don't forget that there's a 10% early withdrawal fee (age > 59-1/2) in addition to the taxes.

Becoming an agent has costs to operate Day 1 which includes: additional car insurance (required to drive people around), licensing fees, dues (state and national), fees to operate a Supra key, to be on MARIS (MLS), prepaid legal fees, etc.

We have been living with the house as-is, and a found a number of additional problems with it.  

Additionally, since you are earning a good wage you qualify as accredited investor.  

I'm a SD resident entering the game and buying two SFH's in the KC, MO suburbs and am looking for recommendations on local (San Diego) CPAs that specialize in REI, and specifically have a knowledgeset for investors with holdings outside California.In addition, as someone starting out with their first holdings, any recommendations on things to specifically knock out right off the bat with my new CPA would be much appreciated!

This translates into $204K over the life, in addition to the small down payment.  

Lastly, with foreclosure there may be additional debts on the property.

In the last 13 months I received my license, bought 16 rent houses, flipped two houses with 500+ sq ft additions, and scraped three 1000 sq ft houses and build new 2600 sq ft homes.

However, my California RE mind sees the prices vs rents and am bewildered by such statements.As of now, these are my desires in properties:a house or townhome built after 2000 - I prefer after 2003 turnkey condition MOST PREFERABLE, but not necessarily a requirement at least a 3+2 neighborhood well kept and not too much crime $50-$100K, short sales are acceptable Close to transportation and/or the fwy Relatively close to downtown and the airport (10-20 min when there is no traffic)Seeking cashflow, appreciation much lesser priorityFor rent of 800, the PP cannot be exceed 60kFor each additional $100 of rent, the max PP can only increase by about $12.5k.If you see immediate issues with these desires, PM me so that we can talk about it offline.

Ss is a great long term  business to add to your portfolio in addition to single family.