Single family home rentals average $1.61 lease price per square foot nationally if you look at the conglomerates that own thousands of houses. apartments average more than that.

A one-person show isn’t gonna cut it.

They are great tenants and rarely ever have a maintenance call and small stuff they just take care of on there own and don't charge me or even let me know.

Initially I didn't have a personal connection to the area and didn't know much about the city.

We have owned some real estate in other parts of the country and if you are in an A market you can do well, its the rural low appreciation areas where cash flow on paper looks great but in reality its not is where most people get hurt.

I am ready to start investing in real estate but know no one personally already doing it.Thanks a bunchExcited to start learning and connecting with Bigger Pockets community! 

Also, I believe they own this property out-right, no loans, etc.I'd like to structure a deal where they provide seller's financing with a 2-3 year off-load timeline that gives them a) some cash now via a down payment and b) some regular monthly income all while I work to bring rents to market value and we both benefit on the sale and refi.How would something like that work and what would it look like?

Not your own rehab at your own property.

but keep in mind CA has higher taxes and reg fees and I’m not doing more than 1-2 flips (short timeframe flips)  a year and many years do 0 flipsDo most flippers put flips into LLC Or in personal name (sole proprietor)  in CA (where you must pay $800 yearly plus accounting and other fees $300to $600+ yearly to maintain LLC) Pros for personal name-save on taxes accounting.

You need to tell your alderman, and the alderman of every building you own, what a terrible idea this is—even outside the ordinance zone.Get informed!