Hi @Christopher J Driscoll I am doing something quite similar to your approach, my ADU permit should be approved quite soon, I am still waiting on my last LADWP clearance.

The last year I renovated a single family home to rent, pulled out some equity, couldn’t have gone better.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

When I have last minute cancellations, I still pay them.

I have a program nationwide that does NOT require GC to sign anything, only provide proof of 3 C/O's (certificate of occupancy) over the last year I.e. built received occupancy permission now unit is on market or habitable.  700+ FICO I can get you 80%LTC loan to cost on the project on ground up construction for 1-4 units. 

If you can get the first month, last month, and a deposit, even better.

Last year we began testing different places by staying in Carrillo and Junquillal with day trips to a lot of other nearby beaches. 

It seems a traditional sale gobbles up half of it in closing costs.We refinanced early last year, and another refi would cost ~$5k, plus w/ the LTV, I don't think the numbers work out just right.Too bad we were too naive to even consider those offers when they were handed to us.

I have invested in real estate casually in the last several years, and am looking to step up my game by learning from those willing to help, and succeeding with real estate. 

During the time deployed (last 4 yrs), I rented the home.