I'd suggest building a strong relationship with an agent who can give you proper after repair values as well as understanding if homes are moving in the market.

On the wholesale side it sounds like a lot of work for less than $1k.Correct me if I'm wrong, but I believe owner occupants get first look on HUD properties and are allowed to finance them.I would strongly suggest taking 5 or 10k of that 20 and doing a targeted direct mail campaign.  

I found out that zip code: 90001, 90002, 90003 have pretty strong rental incomes.

There are several concerns I have with this.1)  First, you went from ignorance is bliss to at minimum a very strong suspicion.  

If anyone is looking for an investment friendly realtor, who really cares about helping his clients, I would strongly recommend Dakota Cooley.

Also, if it's a strong cash flow property you can borrow the down payment and some rehab cost as well(maybe a family member).

I don't think demand for $100k primary residence will be strong in that area, there are so many 1950s ranch houses $60-70k, even though yours is the nicest.From an investment standpoint, that area is a stretch to rent over $925 on a 3 bdrm.  

If your white collar skills are weak, but your blue collar skills are strong look for a partner who has the skills you lack.

If that is true, I'd strongly suggest you find yourself a buyer's agent.

Also, the most important thing you can do starting out is build a strong team around you or partner up with an experienced investor to mentor you through your first few projects.