For a new company, the exam date will be the date any regulatory bunch shows up back to the date the company started, including affiliate and subsidiary entities.

Red striped area represents "regulatory floodway".

Are there regulatory bodies that have to be notified? 

Area looks great from a return perspective, but at a surface level looks like a regulatory minefield.

If not you will be contacting the state regulatory agency to file a complaint and have them investigate if instead of being nuetral they are catering to the bank.

$25k for interior electrical and plumbing$25k for sewer, storm drains, fire hydrants$25k for other interior costs$50k for regulatory costs (permits, legal, etc)$50k for other unexpected costsThis would come out to around $375k total, round up to $40/SF.

As a native Californian these last many years (now TN resident), have seen tighter regulatory control over private property in CA.

I'm not against bringing in some regulatory laws here, but blanket statements like yours that are based on hyped up speculation and fueled my your nightmares doesn't help anyone.

Given the highly regulatory environment there, I'd want to research it no matter what I planned to do with it, be that long term, midterm or short term.

The truth is these books are almost out of date when published and almost impossible to understand by anyone other than an attorney and even those not trained in regulatory law as opposed to contract law would have difficulties correctly interpreting it.