(At this point, I prefer to hold them, cuz they'll pay for themselves in 2-3 years and keep on generating income.)This is not to take away from your good fortune, but to say that this is a repeatable success under the right conditions.

I am very interested in purchasing tax liens, fix and flips and turn key rentals ( where there's a property manager in place).  

This has been a learning experience and so far my key takeaways are:I don’t want a second job as a property managerI don’t want to be a general contractorI'm a bad CPAI love it when other people do work for me.I currently reside in Santa Monica and would like to own in this area, but I’m heavily leaning towards outside markets for higher long term cash flow.

Welcome Ali, I live in California as well and was recently given the opportunity to purchase a turn key in Az.

It's like getting the keys to the kingdom.

For example, you set up key word alerts. http://www.biggerpockets.com/alerts

Realtors provide a key role to this type of investing and even if you end up getting your own real-estate license, you'll still be working with realtors.

I'd work with a property investor who can find, rehab, and manage a property for you similar to a turn key company but on a smaller scale and better cash flow. 

I take notes, get ideas, and relisten to key information.

I am looking to buy in Memphis (38115) from a turn key provider.