I am learning a lot from BP on how to set up a property management system to begin learning the proper way to structure a rental property portfolio. 

If not from CT and there's any networking events or groups online - id love to hear which groups you recommend/ webinars . lastly, any advice on how to properly approach investing professionals as a beginner - would be greatly appreciated. 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

While this project ran smoothly overall, managing a larger renovation budget of $74,114 required careful planning and coordination.

or is there a more proper approach you would recommend?

If you buy in the proper STR areas there is practically zero regulation risk. 

Might not be easy but it has been done with proper permits here in the neighborhood.

The property is 20 mins from San Diego proper and 30 from the beach.

You would just need to coordinate cleaners and maintenance.Best of luck!

As for the gift for the down payment, it's generally allowed, but it must be properly documented as a gift letter to the lender.