You're definitely in a great spot to do some value add investing in your position and the long term appreciation aspect makes sense but single family homes in SoCal won't be the most efficient vehicle for BRRRRs. 

That aspect will continue in the future.  

I think we can both agree that mobile/manufactured housing should be removed as they are a depreciating asset which would invalidate the appreciation aspect of your argument.

Finding a good property manager can be one of the most difficult aspects of your project.

If your deal is good enough there is always going to be a buyer, which makes me wonder if you know how to analyze a deal properly--you may need to educate more on that aspect.

A good wholesaler needs to understand way more aspects of real estate than just a flipper or a buy and hold investor because they have to do all of that AND make a profit.

It's been useful though and I think networking is the most important aspect of REI.

When you say $1000 per unit per year in expenses you are referring to these 2 aspects (maint, capex set-aside) or other additionals?

That manager had a tendency to inject himself into EVERY aspect of operation. 

These documents will give you clarification on these important aspects: current monthly rent amount, who is responsible for paying which utilities, what security deposits are being held by the owner, if the tenants are current on their monthly rent.