I have talked with numerous investors recently who did not budget for repairs and capital expenditures in their pro forma. 

Besides price, the other most important element was the closing date. 

The human element is much more integral to the process because your typical home buyer and seller need to be constantly reassured that they are ok. 

They will tell you, "HERE's a CREDIT CARD WE RECOMMEND" You have to use one of the numerously over priced, highest interest rate cards they recommend in order to "qualify" for a credit rating or build your credit up.

I’m from Fort Wayne and have helped numerous people get started in the market here. 

One tip I discovered for people with numerous properties and one account is to make the rent amount end in the number of the unit.

Also, if you live in CA and manage the LLC from CA, chances are you will not be able to avoid the high CA LLC costs, even if you form in another state.I think what you're proposing has a lot of elements to it that you likely should be discussing with a CPA and attorney your options and the consequences to each. 

There are numerous no income verification products available with short seasoning.

NEC Article 300.8 states that no raceway can have elements of any other system besides electrical in it; no plumbing, no fuel gas, no ductwork.

Consider all elements of the investment before diving in.