I am also listening to the podcast, and will be networking here shortly at one the REI meetings I have signed up for.

Another concern I have is short term rental regulation (possibly?)

Short contracts with 60/40 split.Any interest, or suggestions?

Hello BP,I've finally decided to post a short intro about myself.  

I understand that he is bringing some capital to to game but he is not handling any of the other duties or day to day operations.  

I specialize in homes going into foreclosure and short sales.

This of course does not mean that SoCal REI will continue to appreciate in the short-term, but history shows it is very likely to continue to appreciate in the long term. 

Persistence is the name of the game, your best bet is to @ least send it once a month and create a system to notate when you contacted an owner. 

I rented it on 3.1.14 for a 1 year lease and I've resigned with him 3x ( we also did month to month for a short time).  

This has probably been written about on these forum's or in a blog countless of time's so you could google and get this information.The short answer is you need to know everything so ask a lot of questions.