Personally, i put each house into its own LLC, this way it keeps each investment separated. some will agree with that method and some will not, you need to find out what will work best for you.

I plan on doing the BRRRR method and I know that doesn't reach the 30% threshold, but I am comfortable with it. 

That method seems like it would work here.

However, the BRRRR method could be applied in the inland empire - think San Bernadino, Victorville, etc,  You will just need to really find a good deal.

Having confidence on your salesperson ship and methods used for marketing will help you on being sucessful.  

Which method did you go for your deal?  

The NWMLS PSA used here in WA has a standard Method of Payment Addendum that will address the details of a wrap or regular seller carry.  

I'm hoping to learn all I can from BiggerPockets and hopefully get some social networking in to find other people who have found this method of investing successful.

I have been doing a lot of research on all the different methods in real estate.

I think the BRRR method is an excellent way to get a great deal and keep a cashflowing property.Question 2- For your first property (or couple properties) I would suggest staying away from 5+ units.