I've always been taught a good rule of thumb is "If it's too good to be true, then it probably is." but when it comes to real estate, wholesalers seem to find these properties by the dozen. 

Probably 8%.

You probably don’t want to have $25k + or - tied up in a non-cashflowing rental.

Double check that is correct.You might want to reevaluate the amounts you are holding for CapEx and Repairs.  15% together is probably sufficient.  

@Shera GregoryI’m not sure what you are asking but you probably would NOT have to pay UBITon a 401k receiving a loan like you would on an Ira receiving a loan. 

In my case, I don't use an LLC for my real estate holdings. but use an LLC for an active business, an S Corp. with a DBA for 2 different businesses, and a C Corp, since closed, for real estate management.In my view, closing one and opening another would involve paperwork and fees, but keep your accounting much cleaner, as you probably agree.

@Michael Greenberg A fellow host in St Augustine does what is probably the most cost-effective way to get repeat guests by simply collecting contact information from guests and with their permission, sends periodic communication and specials.

I know you probably learned it from some guru, but it's totally unnecessary.As for having access.

Properties in LA probably have a lot of potential for appreciation and maybe only cash flow a little bit whereas some properties out of state could cash flow a lot but never see any appreciation.

In our unit walkthrough we determined that all the unit panels are Zinsco's, probably original to the property (built in 1968).