They are farily easy and do nto require much to get started and the Max LTV is going to be 75% but I have seen some exceptions to 80%.Rates are subject to a few thing like loan amount, property type, number of units, credit score and downpayment.DSCR allows you to purchase with No employment and No tax returns so its a little easier. 

Please let me know who you have worked with and why you like them (How many properties do they manage for you, how long have you worked with them, what you like about them etc.)When the unit is vacant, do they cover the cost for professional photography to rent it out again, or is that an additional fee? 

(I would not specify how much.)If the property needs a ton of repairs, then even buying it subject to the existing mortgage may not be enough to make this a viable deal.You need more info, and fast!

My idea to buy a home is to get an 80% LTV 1st mortgage from a bank, take over that mortgage and give the seller a second mortgage for 50% of the 1st mortgage balance because I need some cash to cover the payments, which the amount of cash would be more than the remaining equity in the home.

$2,698-$1600= $1098/mo would be your responsibilty and you said you could cover it all. 

That's called a straw man argument.My only question is if property taxes are going to go up for the people of Pacific Palisades to cover the damage the People caused to the city.

But at turnover you needed better paint and change out window coverings almost always.. change carpet every other tenant.. glad i had concrete floors in the main living areas..

The income isn't covering the costs (maintenance, capex) and you've only gained 15% appreciation in the three strongest years we've seen in a long time.

Andy Sirkin (fantastic legal team from SF) has a library of free online articles and a set of agreements to purchase, to help you on your way to become a Subject Mater Expert. https://andysirkin.com/article...Elizabeth and Christina (The Rental Girls) have done a great job pioneering the shared ownership (TIC's) model in Southern CA. 

To do so, I need an initial team who can cover the following aspects of these projects:- Wholesaler- Contractor (Inspection oriented)- Equity Partners (Project Incentives)Once the deals are in place, the financing support will be through personal capital for upfront costs, with the intention to raise private capital and include hard-money lenders as-needed.