Now do you see why I'm constantly warning Californians against buying and managing D'class properties here and expecting everything's going to work just fine as long as they think positive thoughts at the process?

You need to stay in constant contact with them and show them you're in this game and not a tire-kicker. - Just communicate.

I used to be a very caring landlord,responsive and of course proposing a great house in Good condition,but for 2 years I was almost not sleeping at night thinking an accident/personal injury/mold related health issue could happen and consequence of this would be them suing me for eventual High medical bills or else,which could mean losing one or more of my single family homes as they were all under my personal name,The point of my post is that it seems you cannot follow a "by the book equation" that would 100% prevent you from this to happenOkay I had the biggest umbrella policy up to 5 Million in coverage,but I have a limited trust into insurance companies,I can easily imagine them finding a way to not cover the problem if needed with some clausesI always was specially paranoid about MOLD,especially with the houses being in Florida,although the premises seemed to be totally ok at move in,you will always be told that there are some mold in houses in general,so the situation could quickly change without you noticing even with constant control,I add a very nice old couple as tenants but at one point they were telling me they had health problems because AC was not working for a day in order to have it fixed quick(of course as usual I respond or act fast to resolve the issue but this just ringed to my mind what could happen if they would get very ill and need to pay a crazy medical bill...)

The best laid plans tend to unravel when the rubber hits the road.Start with a source, learn the source and it's limitations, then when you've exhausted the stream of deals from that source, add in another one and repeat the process. 

The Town-home was costing me:PITI:                                      $520Water/Electric/Trash:        $150HOA:                                    $40Total:                                   $710Overall, by moving out I was able to save $190 a month on living expenses, while adding a stream of income that is covering down on my previous expenses and netting ~$250 a month.

I delayed the loss of the property by constantly communicating with the lien holders.

This is going to be what you do for the rest of your life as you constantly tweak and insert what you learned into action.2.

You could find a great property and live for free today but if you can increase rents or take on a roommate, that “break even” could become a good revenue stream in a short amount of time.  

Just consider that if you are shopping rates that they change constantly. 10 year Treasury is a good bellwether for mortgage rates and if you see decent changes in that from the time you get one mortgage quote to another you are no longer comparing apples to apples.Also, find out the rate to wrap fees into a loan(or as many as you can) and without. 

I'm doing what most people are; reading, listening to podcasts, and constantly trying to save money to get my investing off the ground as soon as possible (I'm 25).