Simple.

A simple ditch dug around the property to drain the runoff properly cured the swamp problem.

Don't make it to complicated you will stress yourself to much over something simple.

I use a simple spreadsheet when I'm rehabbing a unit, and paying for capital expenditures or other repairs, and that works for me, but a regular maintenance scheduling program (they may already have one) sounds useful - when filters need changing, when to call the mowing crew to start and stop for the year, landscapers, gutter cleaners, etc.

Any recommendations for an attorney familiar with CA Law who would do a simple contract review? 

SFR's in Memphis are pretty simple, especially with the turnkey companies I am working with. 

And 36 Other Key Financial Measures 2nd Editionhttp://www.amazon.com/Every-Estate-Investor-Financ...Landlording on Auto-Pilot: A Simple, No-Brainer System for Higher Profits and Fewer Headaches Paperback – July 28, 2006http://www.amazon.com/Landlording-Auto-Pilot-No-Br...Stay away from Rich Dad hype books, but it's worth reading them to understand your competition's mentality. 

Because this is my first investment, a part of me feels like I should keep it simple and purchase a property intended for long-term lease.

It used to be very easy to set up a simple land bank to "sell" the developed asset into in order to either enjoy cap gains or do a 1031.  

It is SIMPLE.