Congratulations on the overly high selling price, you managed to screw the buying public on this one, while greatly benefitting the seller, which is exactly what you should have done.

IS you need to buy the best you can.. there are a lot of these companies that prey on beginners and talk them into buying the cheapest asset in a given city.. and my point is the cheapest asset in a given city usually is squarely in the hood. those homes are tough  to almost impossible to manage over the long haul.I see MI was mentioned in this thread.. they will tell you if you talk with them.. they started in low value assets quickly learned that it was a dead end.. and now they won't sell those type of properties or even manage them for others.I start TK reviews as a public service to the BP community although the majority of folks that go on the site have never been on bp or heard of BP.. it gives people one place to go to see 90% of the turn key companies compare what they have leave a review if U like.. good or bad... without having to go to a squeeze page or get worried your going to get spammed..

Those two towns have a pretty good transportation systems.  

I’m also depreciating a newly purchased commercial mower ($6000) and an enclosed trailer ($5000) to store and transport it and other equipment to the property over 5yrs (I think) or $2200/yr.

Institutional storage companies such as Public Storage have their own Wireless Leasing Department which is staffed experienced telecom folks.

They opened up the opportunity to be a KP to the public, however they are selective. 

couple things and again not to throw cold water on your idea.you are going to find it quite difficult in the north bay to find homes as cheap as your talking about.but that said.. get PROPERTY RADAR and use that app.. its critical.when vetting a buyer ask them for the last 3 properties they bought.. ask for address check public records and see if they actually bought them.. you are going to run into a whole host of flakes on craigslist that you had no idea existed.. daisy chains of guys like you with little to no money trying to do this..

The full down-payment can also be a gift from valid sources:RelativeEmployer or labor unionClose friend with a clearly defined and documented interest in the borrowerChurch or charitable organizationGovernmental or public entity down payment assistance program providing home ownership assistance to low- and moderate-income families, or first time home buyers.

I like it because not only can you find situations that will either never appear on public records based lists (bad tenants), or may not appear quickly (neglect), but you will also learn a TON about that market, what's for sale, etc.But lists also have their place.

IRC Sec. 219(f)(1), Treasury regulations, and IRS Publication 590-A,Contributions to Individual Retirement Arrangements (IRAs).