My philosophy is that if you have to make an excuse about yourself before you even sign a lease, then you will do the same every month when it's time to collect rent.

I have efficient methods of rent collection that generates it's own receipt, etc.  

It's FREE and a lot of people, including tenants searching for a home, come through this site to find what they're looking forScreen and select qualified tenantHost an open house personallyHave application forms ready with requirements, what's going to happen in the screening process, and the qualities you expect from your tenantsAvoid fair housing problemsLease-Up the tenantSet and collect the rentImplement day-to-day operationsHave a handyman you can trust and who will get the job done in a timely mannerGet things done in order to keep your business running smoothly (rent, taxes, mortgage, maintenance, etc.)Know how to renew leases AND how to deliver termination letters and deal with evictionIf they're a good tenant and you're a great landlord, your tenants will have no problem renewing a new lease period with youIf they're not a good tenant and start missing payments and etc use your current relationship with them to reason out a solution.

My goal is within 30 years to have collected my long term return on investment (appreciation) on the complexes I have owned and maintained and apply the capital towards a 200-300 luxury condominium complex construction. 

yes. unless you pay for the entire bill or you like problems when you try to collect electrical bill.

The real answer is it depends on the intended use of the property, how extensive the renos are, and what your risk tolerance is. 

To build a buyers list, go to the top of the BP Wholesaling forum and read the sticky topics there; one has an extensive set of links to a variety of methods. 

I was just hoping to tap into the collective BP wisdom to help shape my search for a forward investment.

The sole purpose is to identify and acquire 4+ bedroom properties to rent to college students and collect rent per room (research shows that rooms can rent anywhere from $400-$600 depending on size and condition of rooms/home). 

California has become VERY aggressive about collecting taxes.