It is my understanding that porcelain tile is "better' ie harder and more durable and available in more designs but more expensive. 

Like you I like in SoCal and it is a very expensive market.

Doc review shouldn't be terribly expensive. 

Now that I have more knowledge, I should be able to easily beat that ROI.I've tried to account for the expenses of purchasing new properties.

Based on my limited but very positive experience I am recommending the pm be Janice KemmerBuying a property off mls and turning it into a top producing rental takes a lot expense, risk, and work.

With mortgage and expenses around $800.

Its not expensive and helps a lot in standing out.I agree with Peter, start cheap with a great bargain and get half a dozen five star reviews.  

Make a fixed asset account for each property and sub accounts for the purchase price and expenses.

I am thinking about doing this to save on expenses and learn the process when I am fully working with GC's in the future.

Let's say that they are generating $15k each month, net of all expenses.