We recommend reaching out to a broker and obtaining a relationship with them as they can help you understand the nuisances and can make/break a deal.

Feel free to reach out if we might be able to help with anything there.

In addition, we're forced to pay ~1k/ month to help pay for the CAM upgrade fees. 

I have some questions I need help answering. 1) What are investors/flippers looking for in the OC area (Costa Mesa, Huntington, Newport, Laguna, etc)?

The info is very helpful 

This is all pretty basic stuff, that you can read about here on BP if you spend a bit of time looking.So, tough question for you - how are you going to succeed at RE investing, if you keep putting in little to no effort on research and just ask strangers for help?

Thanks for the help

A renter can help you save on carrying costs when the market softens.

I also have a close connection with an experienced developer and is willing to help mentor/guide me through looking at homes and answering my questions. 

Can you DM me the address if you are comfortable sharing, or at least the town it is in, and I may be able to assist or help point you in the right direction.