You are missing the most important thing you can buy yourself,an education.You need to meet with professional wholesalers who have been doing this successfully for some time and ask them how they do it.Apprentice yourself to them for free doing their ground pounding work learning the business as a young college student intern would.Learn how to put together a large list of cash buyers and flippers who need the properties you find to sell them.Learn how to carve out a good territory to farm that has several homes sold in the last two years for top dollar prices and sold the fastest (less than 30 days).Learn how to use postal workers,utilities people,and others to spot bad houses that might be able to be bought cheap.Use high school students involved in sports teams or band to seed your farm with cards and fliers door to door at every property and give them a tax deductible donation to their groups.Promise them a bigger wad of cash if you sell a house they bird dog for you(tax deduction!).

Supplying debt (lending or guaranteeing in some fashion for credit supoprt) or equity2.  

Also what seller disclosures were supplied/required and did they address this?

I have a unit to renovate in boston and wanted to know labor cost (including only rough materials typically supplied by the contractor) of1) a averaged sized kitchen remodel (i.e.

It seems the thieves work with contractors, by supplying them brand new  hot water tanks real cheap.Now I am paranoid...

So, I think if it is a neighborhood with high rental demand and limited supply, there's no problem, at least there was not for me personally.BTW, prices in class B held up much better than class C in my market also ... so naturally being the opportunist that I am I picked up more class C rentals at fire sale prices, and then sold out of them when things recovered for a nice payday ...

It's a good deal, at least based on the info you've supplied. 

Also, mentioned, there is market appreciation in both prices and rents, which yes does on average double every ~10 years in and around LA ... who knows what it could be next year or the year after, but over a long hold period this is the average if the long term (going back 40+ years) holds into the future, and I don't see any major fundamental shift in the supply and demand dynamics to suggest it would.  

its not turn key its just the rental business.. and you bought new construction.. new construction is new construction.. but for sure there is a builder warranty.. that's why you buy new.did you do any indepentant research on rental rates..Many times when you buy new construction for rentals the builder is selling a bunch of them in the subdivision to landlords.. and they all hit the market at the same time .. and supply demand takes hold.

In Hot markets where supply of housing is low and investors compete with buyers who just want a place to live and are willing to buy fixer uppers, investors will always be out bid on MLS deals.