The income and NOI will have no relevance in a residential asset.  

This means that you will need to pay registration and filing fees in at least 2 states if you don’t buy CA property.This article goes into a lot of the considerations about whether to form an LLC or not: https://www.mmpph.com/wp-content/uploads/2019/04/May-2019-newsletter.pdfBe sure to tell your accountant that you may now need to file non-resident income tax returns in each state where you own property as well.

These are uncharted waters so no one really knows how it will play out in litigation. https://www.costar.com/article/247920446/coronavirus-losses-could-trigger-act-of-god-clauses-in-contracts-insurance-claims

The local paper had an article about it:https://www.news-gazette.com/news/local/housing/tom-kacich-apartment-landlords-call-for-lower-tax-assessments-amid/article_b8b70990-e3b7-5f57-bd2b-a9a0689150a5.html

Here is an article if you are interested in using loans to supercharge your BRRRR strategy.  

Articles like this claim it does, as do other fairly well known CPAs here on BP.

That is not a skill and you will learn nothing relevant to the business. 

You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention.This article goes into a lot of the considerations about whether to form an LLC or not: https://www.mmpph.com/wp-content/uploads/2019/04/May-2019-newsletter.pdfCreating an LLC in California would cost you a minimum tax of $800 every year.

When you buy with cash it does get a little tricky and I wrote an article on how you need to structure your transaction so your rate will be LOWER.  

I just did a Google search, "bigger pockets how to find properties", and several great articles came up.Once you identify a bunch of options, figure out what's going to work for you.