@Nick Rice I think all chris was saying is that the market as a whole right now is pretty hot, and there are bidding wars going on, "almost" everywhere, and when a buyer comes in with a FHA loan nowadays, usually there is a couple other bidders already bidding on the same property with 20%, 25% down, maybe even full cash, so the 3.5% down offer to a seller is a bit of a last option.  

They're usually used to working with investors and eager to give you a better rate than Joe Homeowner because it's easier to work in a vacant property and I always promise repeat business if they do the job well and within budget.  

Those properties are still cheaper than Los Angeles multifamily properties and their cap rates are usually much better.

Usually If the property is brand new, the builder will provide a warranty.

And the tenants habits are usually the same as they were in the past.

He usually has a very informative presentation from a guest speaker, And if you're looking to make connections there's almost always agents, lawyers, and of course (very) seasoned investors in the group.  

However I have only lightly looked around on sites like Trulia, Zillow etc. and I have heard that they usually aren't the best resources compared to having a real estate agent with the MLS.

I usually ask to see if they can send some over, especially any damages. 

While growing up I helped my dad with the usual landlord jobs when it came to painting, plumbing, hanging shelving, or the worst one cleaning after an eviction.

They are usually a bit smaller, I believe.