So, for the experienced buyers out there, did you look at properties before proof of funds or did you at least talk with a commercial lender first and get some sort of commitment? 

What does the wizened experienced brain trust have to say?

It is just my opinion but, one of the things you might want to do is start by talking to a lender (after you've made some local contacts in clubs etc to immerse yourself in 'the culture' with the experienced).

She's very friendly, knowledgeable, experienced & helpful. 

We would like to generate some more investment capital by partnering with an experienced rehabber on a flip.

Typically there are experienced investors within those groups that you can learn and perhaps find a mentor to help. 

Plenty experienced investors as well.  

I would also suggest getting a property manager if your not experienced with screening tenants.

I would prefer a local experienced investor with significant (i.e. more) equity at risk than myself who will make the right decisions on behalf of the investor group.

Hopefully someone more experienced can speak up on this but for me it seems as though southern California is an equity play more than cash flow.