Been in law enforcement for some time and while they do evolve over time, they will keep the same red flags in for long enough for people to figure them out and spot them. 

The lot works and ok with living in one unit, just trying to find people that have executed them in Los Angeles City.

I am not going to deep dive here.I usually lose these sorts of deals to people willing to underwrite more aggressively. 

Fewer people can afford to buy when prices are high, increasing demand for rentals and driving up rents.

Even if it's just part time, the key to figuring out how PM is done well is by being present around people who have mastery of the industry. 

That's where good people live, and good people make good tenants.But before you put money down on a house, I would find a quality property manager.

CT isn't cheap so if you plan on doing it there you are going to surprised at how poorly you do. maybe in the suburbs I'm not sure but as much as I know people call us from CT and everyone is rich and has lots of money and things are expensive out there. build to rent is a great model. we build 3 story walk up infill and keep it to the residential side. 3 units is the most units before it's commercial and you need engineering, etc. check comparable and things liek that. we came up with this design a year ago and we sold 10 if you want to talk further please DM me happy to connect. there are some great build to rent conferences. we went vertical not horizontal with it to save on build costs and design to fit on any infill lot. this fits on a 3500 square foot lot. most lots in our area are 30x120 or 30x150. in miami where I live now they are 50x100 or so. but any infill lot we can pretty much get this one on. there are some great build to rent conferences coming up too that if you like this topic I'd recommend attending I'm sure you'd learn a lot.  

There are also horror stories about people loosing their property in Spain. 

There's a reason that people try to buy properties off-market and that is because you can find sellers who care more about terms than maximizing returns.So start with a conversation: you already presumably have some rapport since it's your landlord and you've spoken before.

This is a great place to learn and to connect with people so take advantage of all the great resources.