Maryland is one of only a handful of states that does not require Property Managers to have a license from the Real Estate Commission, although it is optional.Also, selfish plug, I am fully licensed and run Blue Door Residential Property Management and am happy to speak with you.

If you are looking in Los Angeles, than you will likely not find many opportunities on the MLS based on today's rates, unless you put a large downpayment.

I would love to invest closer to where I live in Los Angeles, but it's so hard to find good cash flowing properties under 200k.

We are in Los Angeles, and although we do not own anything in SD, we hold a loan on a portfolio of SFR's there that is not performing at the moment.

Limited labor and resources : Unlike the catastrophic fires in Lahaina Hawaii there are significant resources in Los Angeles to contribute to recover, but quality contractors, tradesman, plumbers, electricians and laborers have long been in short supply.

I want to find something local (Los Angeles area), move in, do small renovations to possibly build up more equity, do a 1031 exchange, and find something better. 

I have managed STRs for 10 years in Los Angeles, so I understand the business and operations.

Florida also have many more high end places than Oklahoma (we are much more of a blue collar city in my experience). 

Typical cost for the setup would be in the $15,000 range which would include production of the Private Placement Memorandum, Subscription Agreement, and Operating Agreement, Investor Qualification Forms, as well as filing Form D with the SEC, and state “Blue Sky” filings in those states where your investors reside. 

I'll be the bald one in a blue Kentucky polo, unless my manbun dreams miraculously come true in the next few hours.