Whether you're interested in wholesaling, fix-and-flip, buy-and-hold, or other strategies, there's a wealth of information and a supportive community here to help you on your journey.Clearly identify your short- and long-term objectives in the real estate market.

CA is a great state and as a former resident I know first hand why people continue to live there and move there.

I am a residential remodeling contractor by trade with a solid understanding of the rehab process and a network of laborers and subcontractors that I can rely on, and thus plan on managing this first rehab myself. 

@Logan HartleI have done a couple like this and as Greg said the hard part is guessing what your future tenant will need. (# and size of offices, bathrooms,doors, windows, floor drains, lights, truck docks).If you make an educated guess you will likely still be tearing out or changing brand new walls and concrete, but if you leave it incomplete it is harder to rent.Plan on some extra expense for those tenant improvements.

Once those guys are in place and you have a go-to title company that your realtor recommends and a lawyer.

I think you’d be surprised what a difference having a hot tub could make to getting more bookings and a little extra revenue.

All you need is a good handyman and a good cleaner. 

There was termite damage in the unit (not a ton of damage, mainly two rooms and a side door).

Unless you live in a state where deposits have to be kept in a separate account (google) I would open 1 business account and a credit card for the rental property. 

But with all major repairs done and a cash flow of $4000/month (with healthy allowances for maintenance and cap ex) we hope to start taking a monthly cash out in a year or so....