Quote from @Brandon L.: Quote from @Catharine Haynes: Quote from @Alex Winfield: Sabine, I kind of have to agree with you on this. 

Quote from @Nicholas L.: @Trevor Wilcoxi track most of this with a spreadsheet for my 7-unit portfolio. 

Requiring all occupants aged 18 and older to fill out an application serves as a way to further vet the individuals who will be residing in your property, even if they aren't directly responsible for paying rent.

@Daniel Becker @Tina L King Mike Dymski is absolutely correct.

Utility charge backs / RUBSAssigned parking spot rentals (vs unassigned first come first served)Vending machinesPet feesCommon facilities reservations / rentals (eg party rooms, etc)LaundryStorage rentals

Quote from @Taylor L.: A few things I haven't liked about lending include the concentration of risk and the high tax rate.

Those who do not give a forwarding address generally are afraid of being served with a notice or lawsuit for the cost of damage beyond what their deposit covered. 

I would agree that you would be best served by either a CA-based CPA or one who is well versed in CA laws.

Thanks @Pat L. for mentioning Student Housing so I almost spit out my coffee when I read the notification about Student Housing and Prostitution in the same thread!!!

If any of the L-lines are close by and service nearby colleges, I think I'd be more likely to build out that 4th bedroom.