It will help improve your understanding of how to not only purchase properties at tax lien/deed sales but how to get them ready for sale and maximize your profits. 

To assist in finding homes for flip or rental properties.My question is, would it be legal for me to provide specialized emails (Home photos, ARVs, rehab cost estimates, profit estimates, etc) to my investors highlighting potential flip properties and then requiring that a marketing fee or finders fee is to be added to the initial purchase price of the home If they decide to flip a provided listing?

Likewise, your annual or quarterly or whatever property tax payment is expensed when paid, if you're on the the cash basis (which most people are) but you've already counted that in the reserves.Here is what your accounting software probably shows in the month that you paid the property taxes.Rental Income - $1000.00Expenses:Insurance:               30.00Property Mgmt:   100.00Mortgage Int:        350.00Property Tax:        700.00   Total Expenses:    1180.00Net Loss                   180.00So what you want to do is dump this report into excel in order to reconcile it back to your cash flow.Start with your Net Loss Number and then make adjustments until you reach your cash flow:Net Loss:        180.00Add Expenses Paid from Reserves:Property Taxes:  700.00Subtract Other Cash PaymentsMortgage Principal: $150.00Amount transferred to reserves:  $80.00Net Cash Flow:  $290.00Cash Flow is a completely separate calculation than Profit and Loss. 

I know this is something I want to pursue in.

I would love to pursue acquiring this house but I know nothing about California law etc.

You could also see if your buddy would be open to joining you in fixing the house up and selling it together ARV and splitting the profit.

Love the idea of pursuing your home inspectors license - that will give you a unique perspective on your REI career.I'm not super familiar with the south TX area, but it sounds like you've given a lot of thought to your strategy and the neighborhoods where you want to execute.

Jess and I moved up from Miami, FL to pursue my dream job of becoming an airline pilot.

If well located and well managed  this building will be easy to keep full and it will be very profitable. 

Also I'm not really looking to make a "profit," just looking to have most of the mortgage paid by renters.