She repeatedly said how much she'd always dreamed of being a homeowner. 

They email all homeowners that the surplus is to be credited to their accounts.

A local property manager can handle tenant screening, maintenance, and rent collection, which is especially useful if you’re not living nearby.Legal and Regulatory Considerations:Local Laws: Be aware of local rental laws, including landlord-tenant laws, rent control regulations, and short-term rental ordinances if you consider Airbnb.HOA Rules: If the property is part of a homeowners association, review the HOA rules and regulations regarding rentals.Financial PlanningRental Income: Ensure that the projected rental income covers mortgage payments, property taxes, insurance, maintenance, and property management fees.Tax Implications: Understand the tax implications of owning a rental property, including potential deductions for mortgage interest, property taxes, repairs, and depreciation.

You need to make sure the policy/coverage you get is designed for this use and not a standard homeownes policy.The Lawyer and the town can give you an idea of the Modifications you may be required to make due to:- ADA compliance- Fire Code Compliance- other Laws/Ordiances that may be triggered when you move away from a Residential to a Commercial exposure

With increasing wildfires throughout the area, you can expect homeowner's insurance to be significant. 

Is this for a rental or flipping to a homeowner?

A standard landlord policy, or homeowners policy, will likely not cover you if you have a claim.Claims do happen. 

Hey @Yongming Huang - I'm an investor, broker, and a homeowner that has paid commissions... so I can give my $0.02 from all sides of the table here. 

I'm a current homeowner with approx. $150k in equity. 

My real estate journey began in Pennsylvania as a homeowner and investor and was reignited when I moved to Atlanta, Georgia.