But for a stabilized Class B multifamily in this market, for example, my bare minimum would be 10%, "depending" on how much brain damage the building caused me (even though I use a management company) and what the appreciation potential is (which I never assume more than the rate of inflation, tops) etc.  12%+ is what I'm after.  

Bottom line, the specific facts pertaining to the transaction would have to be examined to know when or whether an illegal act has occurred, and what remedies are available to investors who were harmed as a result.

Approval for extra pets, yes: I have multiple statements about "and damages by guests, XYZ caused by guests, performed by guests, etc."  

Secure the flooring since any leaks could cause subfloor damage under a toilet. 

Depending on the cause of the taxes it could be offset with write off's, deductions, carry overs, etc.You could always take out a loan through a cash out refinance to pay off or down the lien.

@Jeffrey Zhou What you are describing is that DBI receives an anonymous complaint and sends an inspector who subsequently issues you a Notice of Violation (NOV) requiring you to abate work done without the benefit of permits.So in that situation, if the work to legalize your unit is significant enough to create a habitability issue you may need to perform a just cause eviction (temporary only) that allows you to displace the renter in order to perform the capital improvement work. 

-However if they seem like they are going to cause trouble, how hard will it be to get rid of them?

Inspections can also cause delays, especially if unexpected issues arise that need to be corrected before moving forward.

I wouldn't be buying in CA.Growing up in the SoCal area, yes the appreciation has been great the past 20 years; but they way the state is headed, people continue to leave.Red tape in California has caused business to evacuate, high net worth individuals are also beginning to exit the state.Food for thought.

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