I am not an LA or So Cal real estate expert, but from what I generally know about the market is, if you can get any positive cash flow (with "reasonable" down payment), it is likely a win.  

As you begin your investing journey I would suggest looking at a good resource like this website to just get a good idea of different areas. https://www.areavibes.com/Its a great resource and starting point

I really like the Nokomis area a lot - if you're looking at holding onto this one as a rental for a while, I'm sure you'll see some nice appreciation in the coming years too.Just curious, but did you do the full renovation after closing on it, or did it come pretty much turnkey for you? 

I think you'll get stuck in analysis paralysis if you think about it like that.

Test drive the tech products - part of the BP pro membership is access to our amazing tools like Market Finder, Deal Finder, Rental Calculators, etc.

Given that you have a W2, you most likely do not qualify as a real estate professional since it has to essentially be your main gig. 

So a quick general rule of thumb if you want to analyze it like Zillow does, you can multiply the listing price by 0.0042 as an easy to remember number.

I look forward to connecting and working with like minded people!

Sounds Like 1 of 2 things here to me. 

There are programs that offer 100% financing for many different people like Veterans, First time home buyers, (Certain states), Medical professional loans also offer 100% (Anyone with a Medical license).You also have Second Home or Vacation home which only requires 10% down.