This property isn’t in an A class neighborhood by any means and really just looking to update enough to be able to be livable.

To focus on your area, research neighborhoods for trends, look for properties near military bases or colleges, and consider long-term rentals or short-term rentals in coastal areas and tourism hubs.

Husband and I are purchasing a property as our private residence that also has a small cottage on it we plan to STR. 

I would also expect the bank-owned properties to redeem.  

Major water damage in my investment property from a sudden pipe burst there was some other damage from a break inand had a previous break itI have max 160k  insurance payout.It is a builders risk policy for house flipping.

I suspect they drew you a flow cart and then your conversations went something like this: I need to transfer my properties to an LLC for anonymity.They are told they are not anonymous & that is not asset protectionBut I need it anyway for tax savings.They are told there’s no meaningful tax advantages  But I can get non recourse debt because the LLC is the borrower.They are told they still have to personally guarantee the loanNo, I can get non recourse debt I read all about it.They are told yes, while that is true, the leverage is customarily low, applies to much larger CRE transactions and there are still carve outs.

I am new to bigger pockets, I am a licensed plumber in Northern California I would like to start obtaining rental properties 

I recommend GC Realty & Development as a property manager if you want to pursue that market.  

If you don't need assistance marketing the property and just filling out paperwork with a tenant you found, many agents will charge you a flat fee that may be cheaper than an attorney. 

Investors are likely seeing multiple offers on properties, and homes are selling relatively quickly.If you're considering investing in this area, it might be wise to act quickly when you find a property that fits your criteria.