There is a HUGE trust factor you must consider - not only in getting an investor to work with you, but in their evaluation of your integrity and ability to perform. 

But there are very respectable properties that have clean POS and perform.

I will keep that in mind while performing my market analysis.

Also, what type of reserves will they require, since those reserves can effect your deal underwriting and overall performance?

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Someone who could be at the property 7 days a week to monitor contractors and perform simple tasks such as painting, landscaping, etc.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so the price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

My inclination was that it's somewhat bogus to expect a buyer to pay as if the building is already performing at a certain level, but for all I know, in instances such as this one, maybe it's not that far-fetched.

If you believe the market will appreciate exponentially, I would consider the house-hack situation.If you are bearish or think the market will perform with normal appreciation, I would consider to continue renting in CA and buying properties out of state.

It's currently drywalled except the demo'd areas of wall and ceiling and the previous tub is removed. 1. framing and drywalling the closet and part of the ceiling2. installing a bathtub and either tile installation or prepping the walls for tile and I would DIY the tile itself3. tiling the floor4. install toilet and vanity5. prepping the kitchen floor for flooring install (will likely need to grind the concrete patches the old contractor shoddily performed +/- self-leveling concrete)Apologies for the long-winded post and I appreciate any advice!