The wrong choice can be very expensive, I've been told!

In my experience in California, in virtually all (I can't remember one that didn't) of the wills the decedent stated the name of the Personal Representative and alternates, and stated it was the decedent's desire to have the estate administered under the Independent Administration of Estates act.

For example you can look at alternative acquisition strategies like seller financing or lease/options (L/Os can be really risky though, cause you're kinda gambling with the seller on appreciation). 

Regarding moving money out of Los Angeles; my first choice would be to stay right here for my next purchase however the more I work with the numbers, the more it makes sense to at least widen my search and become more knowledgeable about cities in which I have family (eyes on the ground).

Thank you for your replies -Had no choice -spent around 3K to fix things up to get the CO that my lender insisted.

Is there another alternative to that?

Alternate option: use a portfolio lender and get commercial loans in your LLC.  

I come to you all because I am three weeks away from receiving my bachelors and I am very interested in real estate for the first career of choice out of college.

What would be good alternatives for me?

If you can find the right bank, one that will do loans for rehabbing, that's your absolute cheapest alternative.