I would highly encourage you to take the leap if you have not already.Ultimately, due diligence will be your most important task before investing. 

@John Wijtenburg thank you for the information and taking the time out to respond to my post. this will be one of my task for tomorrow. 

Try to pull the necessary advice into meaningful actionable tasks/steps you must perform on the property or any other future properties you pursue. 

There is significant risk of anti STR regulations banning STRs.  

Felton is kind of an unusual choice; it's farther north than even Salinas, almost an hour, and I don't know of anyone who did what we're considering, but we digged the quirky/chill/old-timey-mining vibe compared to traffic jam Monterey and pro-dog/anti-children attitude of Monterey/Carmel.

If I did own mutli family rental property in L.A , I'd  be looking into how it could be redeveloped and getting out of the rental business in L.A too much uncertainty and anti business/landlord mentality with the current regime in L.A and CA.Oakland for example wants to put an additional tax on landlords , who knows if that great idea will be coming to L.A soon.

However, Portland has declined substantially in terms of homelessness taking over every neighborhood, trash piles everywhere, increased crime, looting & drug use, graffiti everywhere you look & the tenant laws are very anti-landlord.

Being a project manager teaches you to break tasks down so you can organize rehab and flips.

(This may sound crazy to the anti MLS-ers) the deals that I was able to find on the MLS were better buys than the off-market properties. 

Do one task at a time in each app so you can compare apples to apples.Load a property with pictures and details.Market that property.See what your marketing looks like from the public's perspective.Submit a fake application to see how easy the process is.