This is one spot where picking up the phone and calling people works very well.

These FSBO's are usually idiots, or think other people are from my personal experience. 

Send him a letter, emphasize that you are personally yourself the end-buyer, include proof of funds, include something attesting to you being financeable (unless your proof of funds is for the full cash purchase price).If he owns 20 local businesses, good chance he's in at least one chamber of commerce, and if he's not, he 100% knows people that are, who will spill the beans and offer to do an intro if you mention you're interested in buying a gas station over a beer or a meal (there's probably like 3 people in that city that fit this description, why not get introduced to all 3?)

We were supposed to save a lot of money by laying off our AP staff here, but we actually ended up having to keep one of those people.  

Learn what a good tenant looks like, then learn how to screen people so you can select good tenants.

People don't want to live in a basement.

If there are no studios, I’d be a little wary unless you know for sure your demographic will be solo travelers, couples, or people working remotely. 

This is why people only put one property in each LLC. 

While CA is generally view as tenant friendly people are still investing there and making money. 

In our experience, the #1 mistake landlords make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.