Then MAYBE you will see decently cash flowing properties based on the risk-reward nature of those submarkets.

If I buy the property for myself, then my reward is paid after I fix it up and flip it. 

To get to $10,000 a month it would take 34 doors (just numerically - ignoring a slew of potential caveats like capital improvements, etc), and at maybe $25,000 a door to finance a cheap rental, you are talking $850,000 in disposable cash to buy those doors. 

I routinely work with numerous organizations that have a 1000 or more corporate vehicles including LLCs where sequestration of liability makes perfect sense given the relative active business risks which are enormous and the relative costs of establishing and maintaining the structure are negligible.So again I say show me a small real estate operator that has been saved by an expensive and cumbersome legal entity structure that couldn't have been done it at least as effectively and much more efficiently through fundamental risk mitigation practices which disciplines one to act responsibly from the outset.In other words, running what are essentially passive real estate activities by retaining competent and professional management and a modest amount of insurance coverage (which should effectively limit risk sourced to the RE activity), and if you need additional coverage (for risk sourced outside the RE) get some ultra affordable umbrella coverage.Now I realize you won't be able to able to strut down the street pretending you are a player because you have an LLC, but it seems to be a very very small price to pay for not being played for a fool wearing the LLC trappings of a clown.

As a San Digan, I should say I agree that investment in CA needs more capital but the long term reward is much bigger.

You shouldn’t have to reward people for not living like slobs.

For years the rent has been strong, your tenants have been pleased, and your cash flow is very rewarding.

Investment money come after that.Real estate investing is a very rewarding journey and you have to go through its different phases.

Of course I’m not looking to get rich on this deal, I know small risk is small reward but I think it would be a great stepping stone and I want to take on a small rehab property as a learning experience to gain confidence for bigger deals that need more work. 

To get rents up, it needs numerous projects completed.