Please reach out to us through our website and we'll be happy to help you further there.

Also, to track spending habits - just had a prospect withdraw their application when we asked why they were spending half their income on gambling websites.

I was in the position of considering renting to someone with a pittie.  

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I think you have a good plan, BRRRR is still a great route in the current market, and especially for the states you are already in - both Indiana and Georgia are very well positioned for BRRRR deals in my view / experience

I recognize this is not the sole source of return, but the other sources have their return increase with smaller equity position. 

Are they part of the pref equity position?

I also know finding a quadplex as a first property in Orange County isn’t going to be easy, but I’m open to hearing people’s thoughts.My goal isn’t to turn a profit right away—I know properties here might not have positive cash flow for a few years.

My questions are what books or other resources would you recommend to someone just getting started and also what is the best path to get started on in real estate for someone in my position?

There are many reasons that adding a single ADU in southern CA is a less than ideal RE investment (i will post a list at the end) but the negative initial equity is a primary reason as the initial negative equity position consumes the initial cash flow and can take many years to recover.As for converting your home to a rental….