I think you want to know if it’s better to constantly lever property and use all excess cash to buy more or pay down principle?

It eliminates the puppy stage with excess chewing and peeing.Request proof of required vaccinations. 

@Rick Owens so the easiest way and the way that gets you maximum exposure is to list it with an agent and make them deal with the tenants.

Plus you also have to look at the risk exposure. 

I’m not trying to be doom and gloom but I would just have excessive equity if you buy into any flips today.

California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.

2 simple things. 1, live below your means2, get debt freeFrom there just save your excess income and snowball it into investments. 

@Sierra Fox,You need to communicate with the tenant that they are in breach of lease, which is exposure for eviction. 

I have a blog that identifies 5 ways to protect your investment which may help to organize your thoughts.https://www.biggerpockets.com/blog/pillars-asset-protection-real-estate-investorsThere are a bunch of different opinions on the subject, ideally you want to understand your personal exposure and decide on what level of protection you are comfortable moving forward with.

Flood Insurance Cost2. availability of property coverage based on proximity to the coast (windstorm exposure)Neither of those will prevent the deal but the costs of the insurance should be researched before you go forward so you can factor that in.There are now multiple private market Flood Insurance providers (Non-FEMA) and I would advise checking them as they can sometimes be significantly less.Contact a good Independent Insurance Agent with multiple markets and get some rough numbers for a sample property.