To quote the conclusion:"Direct Capitalization is convenient, but then so is the microwave.

Yes, I think we are definitely leaning towards hiring property managers.

I'm leaning towards the latter but I would love some advice on the subject. please keep in mind I do not know what I do not know.

Hi Jasmine,When I first started out, this is what I did to learn about the area:1) Talk to real estate agents to learn about the values2) Talk to neighbors of the subject property that I was interested in3) Talk to corner grocery/convenience store about the neighborhood4) Drive through the area during daylight AND after dark on weekdays and weekends5) Talk to someone at the local police department about the particular street I was investing in6) I would ask the person I spoke with at the local police department that if they had money available, would they invest in the property7) Talk to the local building department to see if there are any issues with other building on the street8) Talk to other local investors about investing in the are9) What are some of the fundamentals that make the area a good long term investmentI am sure there are more, but these are the things that I can think of.Good luck!!

Are websites like zillow.com reliable or are there any more convenient methods to look for houses?

The first one was pretty rough  and I did a lot of mistakes, but  I can defenetly sat that it was the best leaning experience.  

I'm leaning on just doing a straight lease to just continue holding since I can't sell it.

I commend you for getting educated; are you leaning toward any investment strategy yet?

This structure is better advised by a real estate attorney, but no matter how much you trust your partner, it could become an issue as you start rehabbing the property and any leans on placed on the property.  

If you've had some success in the Vegas market, the only thing that the L.A. basin market will offer you is convenience due your NE Orange County location.