I'm actually not currently.I know I should set it up and will very soon.

Banks must approve a short sale for a short sale to take place, and banks hire appraisers and other real estate agents to perform broker price opinions (BPOs), or estimated values of the home.The goal would be to negotiate with the seller before the home becomes a short sale. 

Tricky to set up though. 

Some companies allow property owners to select tenants and set the screening criteria...We do not - our criteria does not bend. 

However, a lot of concerns can be mitigated with looking at their past rental behavior in a lot of different settings.

Now to provide extra comfort and convenience to our buyers (who are mostly out of state) we agree to help them out by getting them set up with local property management that we work with closely as well as assisting management market the property for rent to place tenants.

For consulting with a CPA.As mentioned above you can simply take monthly distributions, but what is most important is how you are set up. 

If you ever want to connect and trade thoughts on your goals, I'd love to do that. 

I see posts on CA insurance that appear to be ignorant to both the past method used to set insurance prices as well as the approach the current commissioner is advocating.The current policy had insurers set rates based on past losses.  

After putting about $50k into the property,  I’m just about $25k from meeting my completion goal that includes stucco, drywall, and siding.