I am single so the 250k applies.

Then, after that - for the next 5 years apply $the 1000 that we use to pay the mortgage to the $500 that would go to our saving together.

If it's free to them, you'll see the same tenant applying to properties all around your area.

Even though the transaction involves trading assets.

I have been listening to BP podcasts for years, but just getting involved in the forums. 

Your second call is to a real estate attourney bc again the nuance involved in filling out the forms is a pain in the *** + you need special legal sized paper with margins of a certain length - lol - I thought I had it all dialed in, brought it to the assessor's office (or whatever city, windowless room it was) and got pinged $85 for the wrong paper size. :) I am currently working on quit claiming our recent purchase into the LLC and after gathering most of the paperwork have just left a message with an attourney so I don't have to go through all those hoops again.

I have a full time job at a tech company that offers SaaS but am looking to augment my income by becoming involved in Real Estate, in particular wholesaling. 

Does the current building code still apply if the home was built in the late 50’s? 

I've been wanting to get more involved in the meetup scene in OC.

You could also be passive in a deal, but maybe work out an agreement where the general partners could involve you in their communications through emails or calls.