. 🤷🏼‍♀️  thank you for summarizing what that looks like!  

To summarize, the exchange from father to child in this case will trigger a new property tax basis if they realize a transfer occurred.  

Meaning this landlord would literally have no way of getting this guest off of his property unless he pays her the $100,000 relocation fee.As of now the case is not settled, there is a ton of back and forth litigation, and the guest has still not left the unit.I've summarized the highlights in this post but I encourage anybody thinking about operating a short term rental (especially in a place like California) to read this article and understand the risks.Link

Discuss and summarize to 3 points under each.  

Many benefits to this route in my opinion.The inspection report (typically 10-20 pages) will:- highlight condition of mechanical systems: heat, gas, hvac, electric- give you an idea of which cap ex items need attention: plumbing, foundation, roof- detect hazardous conditions: termites, mold, asbestos, etc- summarize interior and exterior condition of the property- lastly, it sets the expectation and gives reassurance to tenants that you are on top of thingsThere are even tools out there that help you estimate repair/maintenance costs based on the inspection report i.e. repairpricer.comAll the best to you!

The below table summarizes this point:Most likely, rents will increase at a higher rate than expenses, resulting in property values growing at a higher rate than rent growth:Cap Rate CompressionWhen there is high competition for multifamily properties, prices increase, which compresses capitalization rates, resulting in property values that grow at significantly higher rates than inflation:This last scenario is optimistic, but possible given the opportunity cost.

I have summarized the actual costs incurred to provide insight as to what reserves people need be prepared for.Our lost rent amount was larger due to the specific policies of our state legislature. 

To summarize: it’s probably not that your income doesn’t qualify for an FHA loan specifically, it’s that the cost of housing in your area (coupled with any existing debts you may have) make it tough to purchase a property. 

Would you mind summarizing it for us here?

If I may, I'd like to see if I can summarize in newbie language and get correction.