Unless you have a rock solid reason as to why the equity will be a significant return in a year or two, I would look for something structured differently 

There is usually a reason why certain areas are so cheap compared to others.

Or it could have been weekly but for this exact reason .

If avoiding headaches is a main reason for selling these, I don't think BRRR is the way to go.

We share similar goals and reasons for investing.

Well, its boring but it’s just econ 101: stubbornly low supply and reasonably strong demand for those relatively few homes = price go up.

The reason why we purchased this particular property was because I kept seeing on forums that you could not cash flow anywhere in CA and much less in LA County.

@Brian KemplerI have to agree with @Kevin Sobilo here.To your OP, as long as the buyer fully comprehends the deal, from all angels, and have no illusions of full benefits of home ownership, then there is no reason you cannot proceed.

And then I’d reasonably need to get a license in the next state, whatever that is, which is not going to be fun.

And when you finally decide to get serious, she will disappear because the reason she stopped paying you is so she could save up money for the next sucker.