@Will Gaston I have to say this is one of the best threads on student rentals and I always try to send people to it when they ask about this space.  

The earnest is non refundable.

You want it to be easy for your tenants to use to avoid non-payment or technological issues on their end, too.

Even if you create a non-CA LLC, if you are managing the business from California, you will likely be deemed to be "doing business" in California and therefore likely subject to CA taxes.

If the lease is ending be sure you have given the proper notice of non-renewal of the lease.

Of course, it would need to be non-owner occupied (investment property).   

This will help limit your liability on the non-homestead property without affecting your exemptions.3.

Most prefer havng the entire space to themselves and they don't want to pay a lot.

If they don't, give them a 7-day non-curable.

It depends on the lender but at a min they must follow TX SML or lending laws in the state in order to compliantly lend in TX, on whether choose to apply this guideline to all types of occupancies or transaction types (non owner investment, second homes/primary residences, etc)80-85LTV on rental properties is only on the purchase for fannie/freddie loans but on rate term refinances its max 80% and cash out max 75% for 1 unit and up to 70% for 2-4 unit cash out conventional.On HELOC's and rentals are up to 70-75% depending on the HELOC investor or product.Its good to distinguish between what the lenders are willing to do and for which product and also these loan products must abide my state law as well as an additiona layer of "overlays," on top as well (whichever is worst / most conservative).