The Bay Area is very expensive.

The property currently cash flows me about $790 per month after debt service and all expenses and the property management fee.

There's plenty of healthy options for you.One more thought - Once the insurance company is done that property should be pristine - and done at their expense. 

As such you may be eligible to capitalize/deduct expenses directly related to the investment property and those that are indirectly related to the investment property.Items normally paid to acquire a property such as a home inspection and title costs are capitalized and depreciated over its useful life.

They need to know how your expenses are. 

These are expensive but if you are working with a management company that specializes in large properties they might have this service and can pull reports for you.But even the paid services are no substitute for good old-fashioned shoe leather.

However, should he say this is a legitimate deduction, then file a charge to your LLC to reimburse you for expenses paid. 

By that I mean that venting outside is a one-time expense and thus the increased rent you received directly capitalizes into added property value. 

So I'm stuck trying to find a place that's not too expensive, not too far away, and maybe has some income possibilities.

My partner will be more in charge of the labor work, doing what contractors aren’t needed to do while I help to save some money on expenses and rehab; and also just to learn and gain knowledge.