Tenant selection is important. 

Use value-add property locally (and take advantage of the excellent appreciation rates) to fuel your BRRRR/long-term buy and hold investments in other areas that afford you more cash flow.

If you have an excellent renter and they are less than 10% below market, I prefer to only raise the rent every second year.

(Another story which I resolved thanks to some excellent advice received here.)

You’d also need a Deed of Trust to make it a secured loan.That’s by no means an exhaustive list of everything you’d need, but here’s another post with a response that does have a good list and some excellent information from an experienced lender who’s also in California:https://www.biggerpockets.com/forums/49/topics/413352-private-lender---forms-required

What do you look for when selecting a company to manage your properties?

My schedule right now is crazy and I cant dedicate as much time as I'd like, but nights and weekends are key.For our out of state properties we have an excellent property manager or family that help out. 

If you’re looking for a RE agent James Bausch is excellent.

@Stephen J Davis excellent!

Her credit is excellent and has rental income from the house of around 2300 each month.