If you want to get R/V ratios where you can get decent cash flow (even with maximum leverage) and favorable rates of return, then you'll probably need to look elsewhere (as in out-of-state).I've compiled a report called the "2013 Housing Market Forecast" that might help point you in the right direction as far as market choices, but I will also tell you that I am working on an article specifically addressing the question of "Where should I invest?"

If I'm going to put a lot of effort into a deal, I'd prefer that it pays off big time.

a) Getting on title is preferable, say you buy on a wrap AITD or contract for sale in California, get on title, then sell on lease option.b) You could get sales licensed in California and sell on lease option via a listing agreement and get a 3% commission. 

Since banks will not loan to me for rehabbing I either have a choice of private money or a HELOC and in Michigan HELOC rates are cheaper.

Keep in mind you choice of broker is not a lifelong commitment.

Do you like them or would you prefer to get someone else in the unit?

So the choice is a personal one.The most important part is screening the tenant.

2 Is calling preferred over mailing when you're looking at a specific property?

Today I much prefer the turn key/rent-ready approach (as do my clients) because they're easier, less risky, and there are so many goods deals out there.$20k is very low - even in many of the more depressed markets which I would strongly question looking at, especially for your first investment.

I am not sure because:(1) The choice to hire a PM is mine, not the seller's, so why should the seller come off their asking price to accommodate my personal choice?