CSLB requires that anyone doing a job of combined labor or materials of $500 or more be licensed. 

Maybe in a year or two I can start on my own, but in the meantime I want to learn the business now while time is tough to come by and use my money wisely.The question is how does someone who is looking to finance, invest with or partner up with a real estate investor vet that person? 

The problem is, the Los Angeles housing market is very overpriced, so finding a property that was in at least a semi-decent area proved to tough, not to mention the issue of rent control for any property built before 1978.

Much information, free materials... check out the pod casts as well,extremely informative!  

With regard to multifamily, it is real tough to find a good one in B Class area. 

Now that you have learned from the podcast, reading material, etc. the best thing at this point is to really put yourself out there.

Or are those tough to find, hence people's reliance on turnkey companies?

I understand that the first couple of years would be tough but once I start to add in the apartments that get renovated and then store fronts my monthly income jumps to $8,875.So when I do the math with this number $8,875 monthly income with a 5% vacancy rate and 30% operation expenses + my mortgage ($1,400) for the construction loan my cash flow total is $4,502 a month which I split with my investor. 

Ask them to help you begin to estimate rehab material and labor costs: How much to replace 20 windows?  

Times get tough, values drop to $60.