Too many flakes and dream merchants (using my material to teach while stealing your wallet and offering to help you look for it!).

I’ll cover a few of those for you as well as try to offer some advice.

Yes, I’ll check with regional building, but curious for additional thoughts here.

This will give you clarity on the numbers and help you determine how to structure an offer that works for both sides.

.- Tell them they'll have to provide you with a copy of their renter's insurance naming you as additional named insured, with a minimum of (I use $300,000) liability insurance, also before they move into the unit.It's not perfect, but it's a start toward a tenant transparency.

He offered to sell it to me with owner financing for $400,000 and only required 10% down, so I jumped on it.

You'll want to compare offers from different lenders before you settle on an SBA loan offer.

I would start with them.I am not based in LA, so I don't know your exact laws, but I think I can still provide some initial direction for you to find answers, and maybe offer an idea to research.  

Ask the seller if they can offer seller concessions to help cover your realtor fee.

Helps you stand apart from similar 4 bedroom homes and if you choose to pursue a rent by the room strategy in can create additional cash flow.