I suggest you have your contractor open the ceiling and see if they can trace back the water leak to its origins.

I also have a contractors license and I am good at seeing value but I’ve never sold anything.

Planning to ask PM to ask her contractor about partial paint-job and also have an independent painter go in and see whether they feel a partial paint job or full would be necessary. 

For the basement, you need to check with a property manager and a General Contractor to ensure its legal to rent and has everything it needs to be legally rented.

They renovate it with their own contractors to save costs.3.

I’m also working to develop a list of contractors and handyman services in the area.

I’ve already again talked to contractors and got good estimates knocking down this one wall adds aton of value to the house.I estimate the additional amount would be $200-$300 a month after a remodel. 

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Any lawsuits should be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced, some debate as to SMLLC).

This is key when you're not nearby.Professional network – See if they can connect you with other local professionals like contractors, inspectors, or property managers.

You need to work with RELIABLE contractors & Have a Real Estate Agent that is hunting for opportunities.