The main takeaway I have gained after reflecting on last summer is that 1) chasing money alone will not work in this business, and 2) that it cannot be done alone, instantly just like that, just after reading a few books or taking an online course.  

Of course someone may have painted a room in 1980 with paint bought in 1970, but it's a nice cutoff.I also remember a new EPA rule that went into effect in 2009 or 2010 that requires contractors and repairmen to do cumbersome lead checks on houses built before this date.

I've seen a few different articles online about this with conflicting calculations but basically what is my basis for this 1031 exchange here:-Bought a house for 63,240 paid in cash.

Current lease term (expiration date, month-to-month)7.

If there is a requirement from the title company that the buyer can’t satisfy by the closing date, then they may be ready and willing, but probably wouldn’t be considered able.

As far as tenants; I don’t know California’s laws but basically you advertise, screen, get a landlord type of insurance policy, sign lease, set expectations, take care of tenants and home but don’t confuse that with being soft on due dates etc.

You won’t be able to find much online in reference to foreclosure activity.

There is good literature online that you can look up to get a better feel for these metrics. 

Rents received after that date are late.2.

There's relatively little information about this online.