College towns usually draw people but I have never been to Waco.

On my first rental, I was just out of college and totally in the dark as far as these expenses, I took into account taxes and insurance, but don't forget to save the market %s for vacancy, repairs, and capex.

It's not an issue for all practical matters (key word).

If the old locks are still in good shape just install them at another address.I also went to college, not that it is mandatory, and I got a business degree that emphasized real estate.  

Predatory business practices was clearly described.

I don't know the specifics and if these are hard policies or general practices.

Since you are close to Sacramento, Los Rios community college has a good real estate curriculum and the majority of required courses are available online.

I had graduated in 2003, moving each year that I was in college, and thought I settled on a long term rental.  2004 came, and the property owner, who was a mom and pop shop, decided they wanted to sell.  

I eventually took the two courses (RE Practices and Fundamentals) in an actual classroom with Polley Associates (https://www.polleyassociates.com).

A local attorney will also explain to you what practices and procedures you must follow in order to be sure the LLC (the LLC won't do you any good if you don't know what you have to do to maintain the protection it is intended to provide).