If the house has increased a lot in value, you may want to sell to avoid paying capital gains on the profit.

California I believe can make it happen but the capital needed and rental laws make things a little more challenging

So, you're not "wrong" in thinking it's complicated.The tax code plays heavily into how certain transactions are categorized and there is some flexibility regarding what we can capitalize versus deduct.

Improvements, like a remodel in the rental unit, are usually considered capital expenses and need to be depreciated over time.

I've enjoyed learning about various capital raisers and their businesses and interested to hear some reviews on this company.

It's a capital road block.

If the inexperienced investor knew how much work, effort, time, analysis, negotiation, organization, capital, and knowledge it takes to successfully find, identify, evaluate, and close on a property that fits the criteria that gurus falsely claim they see 100’s of every day, 99% of them would abandon their real estate dreams” and pursue ostrich farms, mink breeding, or setting up a “down line” to sell condensed cleaning products that their “upline” has an exclusive distributorship on for the southwestern quadrant of Bisbee, Arizona.  

The option I close resulted in my capital split four ways and invested in four different funds (2x growth, 2x income).

I really like the idea of investing in both SFRs and syndications, if I had enough time and capital to do that.

Seems like Vendee program might be a good vehicle to capitalize on the VA foreclosures in our area.