Additionally, if someone knows a great tax guy/gal, that would be swell.  

Either you or a representative you trust with out exception must perform all the necessary due diligence just as you would for a property down the street from you.Turnkey companies want to maximize profit by doing as little work as possible using the cheapest materials.I would have a professional inspector check everything with a fine tooth comb,especially the roof,plumbing,electrical,and HVAC systems.Also make sure you get a repair warranty for when things go to hell in two years or less(and they will).I honestly don't trust any property I don't rebuild myself with my trusted contractor and quality materials that will last at least a decade or more

That additional equity (the 50k) is now in your pocket and freed up for you to invest in the next deal.  

@Ed` Jones If I've properly understood....the insertion of additional entities, particularly an IRA, would only exacerbate the issue.

In addition, the brokerage LCL seems to manage quite many properties in SoCal.

Here is a part of the letter, I sent to the seller:The home inspection was completed on September 29th (please see attached) and the following issues were pointed out: 1.The wooden floor frame in the middle unit is deteriorating due to either prior water leak in the bathroom or due to moisture infiltration through the walls and foundation.2.There is evidence of significant settlement under the middle unit bathroom and north closet.3.The settlement of the floor and walls has also resulted in settlement of the roof frame above this area, ceiling shows cracks.4.There is an obvious depression on the roof – water is ponding on the roof above the middle unit, which adds excessive weight on the roof and potential for leaks.5.Asbestos containing material has been found.6.The current bedroom heat installations in the north and south units pose a safety hazard from carbon monoxide, fire and oxygen depletion.7.An electrician performing upgrades did not use ‘arc fault breakers’ in the north and south unit breaker panels, which is required by the national electrical code.8.Upgrades to the electrical system, promised by a real estate agent, have not been completed yet.

The point as I see it is that an additional ELOC or refi of the FIRST one will put a strain on ITS cash flow, but so long as it isn't a negative flow, the amount cashed out should easily be able to act as the full deposit for the second, so the rest could be fairly conventional.And of course, the second one needs to have a SIMILAR order of built-in equity, and so on!...

My basic was using the 75% factor for a long while but now due to my longevity of performance and relationship with them, they now loan me 80% Of the appraised value, interest only for 1 year. 

Of course past performance is not necessarily an indicator of future performance.

Brian in addition to what @Rick S. mentioned, I would also have the seller have the tenants sign a statement - which you will provide - that they understand they must move out within 30 days after closing (which will actually be longer for them considering it seems like your just in the beginning stages of purchasing) and then assign a dollar amount for each day the tenants much pay for each day they go over 30 days - think incrementally, to give them an incentive to move out.