I've just started diving into this topic: One thing I'm curious about is how quickly municipalities can act if it passes-- I would imagine they would want to avoid the situation where everyone who can jacks up their rent all at once by the city's new implementation deadline.

I think from a strategy aspect I'd have to say that you should never buy for appreciation because who knows what the future holds.

Even if you "own" a property with no mortgage, go on avoiding paying the taxes and you'll soon find out who really owns your property.

Usually wholesalers target certain areas and would try and avoid an area they aren't familiar with or think is too bad.

I lived in Los Angeles for the last 30+ years and I know which "blocks" have problems so I avoid them (Watts for example).

Yes the one aspect of David’s book that sheds doubt on the whole process for me is the rehab part.

what would be the legal ways to avoid or minimizing paying taxes in this scenario ?

Because wouldn't the partial exclusion allow me to avoid some capital gains and keep most the profit?

Also, I’ve only ever used one carrier and was hoping to avoid the headache of shopping around if investors here generally have a great go-to company for their rentals. 

Do a search and you'll see that most recommend avoiding them.