This portfolio consist of 11 single family homes and 1 garage apt, so 12 units total. Gross rentsare $9,100. Properties are mortgage free. Value 1.3 MillionObvious expenses Taxes, Insurance,  allocating 12% to mainten...

@Ron S. even though CA law says 5 days and full payment needs to be made this can be waved by the bank.. they are not obligated to though as you so correctly point out.basically you need to do these deals outside of escrow you need to know how to do your own quick search and take the title risk.. then you get the seller to sign a grant deed over to you and you go record it.. then you get your funds wired or cashier check couriered to the trustee.that's how we did it.. not enough time to use title company.. that's why its so profitable if done right 98% of your competition simply can't do this  either lack of knowledge or lack of funds or both..

And even if you start your own company it can become profitable if your able to tap the vacation and business extended stay type rentals.

I also received the sellers schedule C today and he makes 24k year from the 3 units 14k in expenses and 10k profit, thats with the rents being so low, I could make the same exact income while living in the 2 bedroom and raising the rents to $1k/mo on the 3 bedrooms.Does anyone have an opinion on the storage and garages?

I have proof the LLC/rentals are profitable.

Do activities that generate the highest value possible, most often finding deals or selling yourself/your product.

Ask yourself, if they are doing all of that what do they need to hand the profits over to you for?

I have dealt with them for many years.. although to be frank most have shut down.. wholesaling in a tight market is a waste of time for most and not profitable for many

The rental unit is not generating income yet so I could fund the business checking account from a personal account until there is revenue to pay the mortgage. 

If you want to factor in utilities and furniture for the house, it's about 9-15 months before everything is paid for with the profits generated by each individual STR.