I am currently educating myself on the best tactics for wholesaling property, as well as strategies for buying, holding, and renting properties to generate cash flow.

I can always refi any that well have a good cash flow for a rental.

Do you raise private money along with your money to purchase a nice, existing cash-flowing portfolio?

Today, CLT isn't as pricey as PHX.1995 AND NEWER SFHs in good areas, are the only way to go-- still have some incredible bank foreclosure deals here.You can still get a 4 br 2.5 ba. 2 car garage under $200k and rents are at an all time high.The prop will cash flow from day 1AND appreciate nicely.

My long term real estate goal is to purchase rental properties that cash flow and create passive income that I can use to roll back into my investments and increase my portfolio. 

It seems to me like an easy 3% ish percent equity gain or a way to reduce the loan a little and increase cash flow a bit for almost nothing, that's my thought any way.  

Unfortunately the reality is that you'll be lucky to be making any positive cash flow buying in those areas around LA (or even areas outside of LA).

Either way I cash flow much better on condo's than single family in the Chicago area.

You still have plenty of cash flow, so I'd take the extra money 

My father in law is a contractor and said he would be willing to do the rehab for a percentage of the equity/cash flow.