I want to begin but I need proper education to avoid serious mistake.

Upon execution of the lease (after option expires on their home), they provide deposit, half of which will be nonrefundable if they have to cancel the lease before moving in.2.  

Assuming, When you bought the property that it was capable of producing $135,000 in NOI but was not performing to market because of bad management then the proper way to value the property at that time would be to use the MARKET rates at the time

@Robert BienesYou sure are on the right path, just make sure to know the area, run the numbers properly and don't buy based on appreciation because there's almost no appreciation in these areas.Wishing you great success!

They put all the trash in the back yard instead of disposing it properly.

Vote that night to hire professional management company. 6) In the mean time, don't expect much by the way of meetings, data and budgets. 7) Board decisions cannot be made via email and board meetings need to be publicized to the owners (the sunshine law) unless you the board is in executive session. 8) Any savvy buyer will see that the board members are serving the same positions, that there are no minutes, no reserve studies, no audits, no financials, etc. that's if this lady responds to an agent or buyer with a resale certificate!

Again, you can get in real trouble for not having it and if someone gets seriously hurt, you could face criminal charges.Consult with a CPA, an attorney and an insurance agent to set up your business properly.  

I'm definitely going to be using PM & HM, but I would love to connect with an investor/mentor who could help me analyze a deal & show me the proper way.

I believe what it comes down to is organization and execution.

And no it is not just pure speculation to invest in CA real estate ... there is a science to it and done properly it is highly repeatable.