Great story, keep your expenses in line, improve the property, keep it occupied and you're all set!

I'm just taking what I've learned from what I was reading and putting it into practice.

Pre-marriage property can be treated differently, depending on your money practices (such as commingling v. separating money) and CA law.

This is because the 90 hr licensing course only teaches you about a tenth of what you need to know to adequately practice real estate. 

Use your knowledge to start analyzing properties to get practice.

That's a great saying for gurus from the front of the room, not a practice for real life.Congrats on all your successes and your tremendous life lessons.

HOA fee - If HOA fees are not paid, business will incur fines, so it is necessary to make the profit in the business.8) Marketing expense and advertising9) Cleaning and maintenance10)Commission (Expenses like commission, abstract fees, recording fees to obtain your mortgage are not deductible but rather capitalized )11) Insurance12)Legal and other professional fees(Tax preparation for business, not personal part)13)Management fee if applicable14) Points- you generally cannot deduct the full amount the first year but have to deduct them over the term of the loan.15) Repairs (Note always do repairs rather than improvements to rental because repairs are deductible right away and do not have to depreciate over few years as done for improvements.

As the area improves I believe proximity to the lake for recreational purposes and proximity to the train to downtown will be a key factor for people moving into the area. 

Legally you are not responsible for paying the agent's commission (the seller is), but in practice you will have to pay the seller enough for them to cover the commission more often than not.

Over the long-run, the S&P500 index beats, practically, all other investments in the world.