We generally stay away from California because of regulatory issues.We know who we are and what we are good at: we’re out-of-town but highly engaged real estate investors who know how to pencil deals, structure deals and package deals to raise capital.

Hopped up on the adrenaline of their first wholesaling seminar, they are sure they will have 100 deals in the hopper this weekend, but don't have money or an idea on how to structure a contract.

I want to create an LLC/Trust structure to protect the property.

That's the key component that is usually missing when I hear other entrepreneurs/investors say they don't like QBO.Something else to keep in mind is your entity structure and how your entities file tax returns.

Common concerns in pre-1940s buildings include outdated plumbing, old electrical systems, and structural issues that could be costly to bring up to modern standards.

Working with a private lender also enabled me to structure favorable terms that aligned with my investment timeline and cash flow goals.

I recommend getting a structural engineer to look at it, not a general contractor.

For the modifications, cities generally focus on safety and code compliance, but since you're considering structural changes like wall removal and garage conversions, obtaining permits is key.

The easiest way to structure this is to purchase the property with a hard money lender that will cover both the purchase price and the rehab cost and refinance the loan with a conventional or DSCR loan 

@V.G JasonYour response is right on the money except the first sentence for which I beg to differ.