We can't just rent out our properties to just anyone, unless you can afford it. 

I can't afford to to give both properties the attention they deserve  and I'm not sure I can get top dollar if I  cut corners.

This is a very basic question so I apologize in advance:I racked up a LOT of meal / entertainment receipts for being an agent / Property manager.  

If he were to respond, I honestly have no idea what to suggest as a fair and affordable deal.

Yes, I live in So Cal where music, film and entertainment people abound, however I did not want to have to think about how the product gets made, only show up and be the Johnny Carson, not the boom operator.

I don't really have the money to spare, but I certainly can not afford to lose any money on a bad deal.

So the following is a list from my experience, that you need to a) plan for and b) understand how to deal with if you're going to get into RE in the city.Tenants (non rent controlled / stabilized): there is a massive shortage of affordable housing in the city, and a shortage in homeless beds as well.

The third move would be to find an affordable flip and jump in to real estate investment aiming you enjoy it. 

They are usually fresh out of college with lots of debt--- that means they can't afford a mortgage.- Why buy a house you have to all the work on yourself (mowing the lawn, watering the grass, etc) when you could live in an apartment building with an on-call maintenance man to do the work?

For the record, I live by myself and have a great job, so I can afford to "house hack" and move around easily.