I’m new to the real estate investments world and appreciate hearing experience investors prospectives and experience.Respectfully,Jamar

With all that being said, if you do wish to be investment property owners, I would carefully interview prospective property managers as I imagine that you're not looking to take on the responsibility of day-to-day property management considering your existing commitments to your business.

An alternative will be to think like a renter, search roommates or craigslist by zip code and other criteria that matches your room. sort your results appropriately to find highest and lowest rents, average them out, that should be work as a magic number to attract prospects ceteris paribus.

Take the time to interview prospective Realtors to find one who has actual experience working with investors - most don't.

Moving from west to east: Culver City is fantastic and expensive; West Adams is gentrifying and hit-or-miss; I love Mid City and Arlington Heights for their growth prospects; Pico Union and Westlake are very hit-or-miss, but are also expected to see a lot of appreciation over the next five years.The FHA loan might be a problem.

The country is changing dramatically and from the business prospective we have no idea how those changes will manifest.

I am changing how I handle showings and screening of prospective tenants.

Awhile back I saw a post that linked to an article regarding the questions you should ask a prospective Accountant/CPA/Enrolled Agent before hiring them...

Not that you could or should be posting door hangers or anything like that while you've got the local axe murderer in cuffs, but seeing distressed properties up-close like I imagine you do fairly regularly should give you an idea of some places you or your wife could start prospecting on your personal time. 

I think starting with prospective investors who you already know is the best place to start.