I could've rented the SFR to a maximum of "three unrelated people" per zoning and probably grossed $900 on $30k of renovations and 250 hours the work.Modern building codes and zoning ordinances make this an incredibly difficult proposition.         

Its worth mailing the list with a unique proposition

Regarding a 5 month term- That's a high risk proposition; almost guaranteed you'll have to pay a penalty to renew.  

And it was a no lose proposition for us.

It is a losing proposition.  

I typically stay on the lower end, but occasionally come across larger deals in need of a value add proposition.

If it were me, taking a negative cashflow position is a dangerous proposition.

Interesting article, I am not going to discuss my opinions, but will say fighting the US Govt is generally a losing proposition especially if you don't have enough money to close on the deal in the first place. https://www.justice.gov/usao-ndin/pr/three-charged...

Focus on the value proposition to the landlord.. why does it make sense for them?

Stan Hill as you know, California's proposition 13 is one of the beautiful things about buy and hold RE in CA.