So factor in your tax, your insurance, your capex, your vacancy rate, your HOA if any and see if it makes sense to buy it @ 119k.

But size is also a big comfort factor.

I like to lead the group mainly because I am super devoted to REI and love to share all my secretss( there are none) and how I do REi.

There are a lot of good resources (mainly from real estate brokerages).

If you're doing property/investment analyses beforehand (and you should be), factor in that you will be paying rent (and possibly some or all of the utilities) to the LLC, and that the LLC should be paying you for managing the property.

Also ask your agent if there are any factors on the house (age, not updated, location, etc.) that is affecting the rates. 

RUBS is a Ration Utility billing system that allocates 100% of the property's utility bill to the residents based on an occupant factor, square footage or a combination of both, less a predetermined percentage of a common area allowance.To put it in easy words, you still pay, but are able to bill back to tenants. 

Also the type of loan is a big determining factor, i.e.

I think interest is only deductible on improvements to your main home and second home. 

Especially if you are only in CA short-term because you may see very little income tax liability when you factor in depreciation.