My wife and I are interested in providing low cost rentals and helping those who might be having difficulty or that have probate property.

There is so much experience and information here that it’s easy for a newbie like me to get so overwhelmed (which I have been).My interest is wholesaling and I understand the process but I am having difficulty picking a business direction for my area in Orange County CA ex; tax lien, probate, vacant, etc.

Due to my capital constraints though, this is the step I am having the most difficulty with!

Calculate the price to rent ratios for each neighborhood if you can.Then most of the work will come from picking the best property with the (best bedrooms/bath split or unit split) to increase the rents.It will be difficult, I am not going to sugar coat it.

Effective 1/1/2013, add my wife and make the LLC a 2-member LLC, with my wife and I as 50/50 owners (how difficult is this to do?)

Why do you say the banks will be difficult? Is

You need to weigh potential income vs. difficulty with agents,  training them, splits /desk fees, Realtor dues, MLS access, office space and a myriad of other issues. 

Still too early to tell how they are doing, but I know they were/are having difficulties getting any records from the old company. 

I can only imagine the legal difficulties that could result if the project doesn't go as planned and that was the way it started.

I am having terrible difficulties with my unresponsive, uncommitted property management company.