I'm a full time special education teacher, so having the capital for the first deal was made possible through the fruits of my own labor fixing up my personal property.

Fruit for thought. 

He still left behind a significant fruit fly and roach infestation that took me a month to eradicate! 

The 2% Rule is very doable here, and 1% Rule is settling for low-hanging fruit. 

Being a good landlord will always bear fruit so it's best to always be on top of every issue that arises.

post shows a year old, but those rent number seems pretty high - comparable to nice ALFs in Orange County here in California.

For instance, if that was a deal in my market in San Diego or other areas of Southern CA like Orange County or Los Angeles and it was being purchased with a VA loan (0% down) or FHA loan (3.5% down) this would be a great way to start, even though you are not initially cash flowing...those markets have great long term value appreciation as well as rent appreciation. 

Regardless of the market , there is always going to be someone that is divorcing , or moving out of town for a new job, or a death in the family, or  foreclosure impending- many reason force someone to sell their property below market and the key is to locate those situations before someone else does - most of the low hanging fruit is gone - so it is up to each investor to really find the deals by using your network to help you identify opportunities in your area. best of luck to you - let me know if I can help you out with anything. 

Hey OC! Just flew in town from Tampa. My partners and I do about 300-350 deals per year. Interested to meet a few people from OC to compare processes and what its like to be in Cali as an investor. I am staying in Irv...

Apples and oranges.