@Pauline Herschel Communication is key. 

You can replace that debt with your own cash from any other source (think of it as debt to yourself if you want).  2.

Delegation is key.

Just factor it as a cost of doing businessWhile California deems the LLC is doing business in California doesn't necessarily mean that the fund will have California state sourced income.If the LLC files a partnership return and all the payroll, property and sales are outside California - The LLC will not have any California state sourced income.

Costar is the best source nationwide.

I out source what I hate to do.

The only income source on the property is your own cash/equity at a very poor rate.Neither property is a real winner but #1 is terrible based on the dead equity earning next to nothing.

Right under the dial is an override key hole. 

I think every real estate investor wants to be a full time guy because this is very enjoyable, there are lot of pros to being full time, here are some of the cons you should address 1) Finding the deals - As long as you are a passive investor if the math works even a 100$ cash flow a month is okay on the side, you can buy your properties from MLS but when u are a full time investor you need a lot more cash flow and lot better deals.2) Sourcing Finance - Banks look for W2s when you ask for money, you should be lot more creative and risky as a full time professional to source funding.3) Market Cycle and Current Market - Markets will cycle and as much as I know most areas are turning into sellers market with low supplies, how do you tackle that?

They key thing is to use an escrow company that you trust (since they will be handling the cash) and also make sure you trust the realtor you're working with.