Don't have the time/inclination to self-manage, or interface with a manager?

And you will probably also have self employment tax and quite possibly the 3.8% ACA surcharge.  

FHA has a "self sustainability" guideline on 3 and 4 unit properties -- this means the property itself needs to generate enough income from of the other 2 or 3 units (other than the one you're living in) to cover the carrying-costs of the property 100% (mtg, taxes, insurance, PMI). 

@Jecarl VirayAs mentioned by others in this thread, if you're located in California, and are going to self-manage the LLC, any LLC you form whether in California or Indiana would be deemed to be "doing business in California" by the the California Franchise Tax Board and have a CA Form 568 obligation along with the $800 annual CA LLC tax. 

I figure 8%, but this is market dependent.Taxes are $93/month, according to Zillow.You've left out Insurance.You should also include Management (10%), even if you plan to self-manage in the begining.Will you be responsible for water/sewer?

I find my self in a bit of a pickle.

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You should include this expense, even if you plan to self manage in the beginning.

@Chase Louderback @Greg Dickerson my list is specifically for quadplex's so what do you both think about the chances that they're owner occupied (75% of the list based on the physical vs mailing address) and distressed landlords that are sick and tired of their situation whether they're self managing or tired of being landlords?

A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.There are a few self-contained guides that you can access here: https://www.biggerpockets.com/guidesThe site has quite a few tools that can be helpful for new members.