@Matt Meier, it really depends on your credit score and down payment amount.

A Class A property in a Class D neighborhood MAY attract a Class C tenant, but chances of getting a Class B tenant are even lower.3) Property Condition: this one is where there is a lot of variance, depending on market conditions and asking rent.

Coverage would be close to 100%, depending on the interest rate and what rental revenue is assumed during the purchase. 20-25% down is fine.

Whether or not househacking would be “worth it” depends on your criteria.

Looking for guidance from this amazing group:Opportunity to purchase a condo for a STR that will not quite break even from a cash flow metric (obviously depending on financing option), but I'm good with that.

@Ademola DawoduThe process to evict a tenant from a unit in Los Angeles when you are purchasing a 2-4 unit multifamily property depends on various factors, including the terms of the existing lease agreement, local and state laws, and the reason for eviction.In general, if you plan to occupy the unit yourself, you may be able to use the "owner-move-in" eviction process.

@John Dawson the best thing I can recommend is 1.) find a mentor you get a long with who is willing to show you the ropes and just be willing to grind like your life depends on it.  1-3 years of that will set you straight, so long as you're putting your clients first, and doing a good job.  

It depends on whether you are seeking a debt or equity partner.

Thanks,Sarah  G'Day Sarah,Congrats on the leap of faith into the wonderful world of real estate investing.Best tip I could give you would be to take your time and soak up as much information on anything and everything real estate.Be it buying locally or out of state, the most important thing is to establish trust and relationships with key people dependent on the strategy you are looking at implementing.Over my career I have witnessed countless of investors getting caught up in online market stats, demographics, charts, etc... only to end up loosing money.As cliche as it mind sound but "Team-work makes the dream work"For example, if you buy the best house, in the best area, on the best street with the best capital growth prospects but your property manager is incompetent or a cheat.

Mine are similar to @David Robertson's but less formal.The type of scope you put together will depend on whom you intend to hire and what you intend to do.