I often wonder if LLC separation is a little over sold, it is a down line defense. meaning, first line should be best practices and maintaining your property in good safe working order, second should be insurance, 3 could be a Mortgage, and 4th a legal entity, and in reality unless there was gross negligence its doubtful a suit ever goes beyond insurance. sometimes i think people over complicate things for very little. just my 2 cents 

In reality a landlord does not have to accept any applicant they do not want.

The reality is that homes that are overpriced just sit on the market.  

That huge time frame exists in theory, but not in reality, due to the many limitations imposed.

The property taxes are brutal and our fiscal situation is a mess.

I have alot to learn but that perception scared me.I dont think people overleveraging are ignorant or anything negative just havent experienced a reality...markets are cyclical.

Eventually the owners have to have a reality check and change their asking price.I think Menifee is a nice area, as an up and coming area for investing.

Saving for the down payment is going to be your most important step now, without one you won't get anywhere, also talk to a lender and see what you might qualify for once you save your down payment, it may be much less or much more than you were planning on, but it will at least give you a good idea of reality.

The reality is that in my 17 years of lending I have originated more than 50 203k loans through all the biggest 203K lending sources and not one lender that I have worked with will allow you to do the work yourself. 

That sounds great in theory but the reality is you are losing $850 a month out of your real life bank account.