Keep yourself updated on real estate investment tactics, market shifts, legal obligations, and industry standards by connecting with fellow investors, participating in workshops, and utilizing online sources.

Of course one thing you don't have to worry about with arbitrage is capital expenses and maintenance, which can eat up the profit quickly. 

Doesn't seem right to me, but I can't find any definitive information anywhere else online.

Can you recommend any courses to learn more about this?

Check out Figure, you do everything on-line and it's quick.

@Arif K. of course the rent isn't negotiable.

Aside from my banks, I just want to know what it is because I want mathematical confirmation that the crux of my actions over the course of a year (I actually track it about every few months if I'm not submitting it to someone) are contributing to rather than subtracting from my pot of gold. 

There's certainly no right or wrong answer, and as you say, everyone has their own opinion, but generally I think you will find most people on this site having the opinion that such an involved structure may be overkill (of course, no one has a crystal ball either).California is generally more cumbersome than other states when it comes to taxes and filings.

The question is finding the deal, any tips?

I use online apps (Wave is one good one) have a separate bank account and separate ledger account for each property...