I owned one for 13 years but it was a STR for only a couple of years prior and the other for 7 years and was always a STR.  

Any landlord that offers this should have their head examined! 

Looking for some advice.A prior tenant did some malicious damage to my property.I called police, they attended and the report said they were wearing body worn cameras.

However, unless you're doing this as part of a BRRRR strategy, you may end up paying closing costs twice and incurring unnecessary interest on the HELOC prior to refinancing.Additionally, conventional loans often have seasoning requirements of 6-12 months, while DSCR loans typically require only 3-6 months.This post does not create a CPA-Client relationship.

What were the prior tenants during this time using it for?

Thats why you see very few HML that were in business prior to 2010 to 2011..

If you are raising capital from people you don’t have a prior relationship with, and even people who you do, they would regard you as serious only if you had a professional prepared PPM and Operating Agreement.

Spoke with the seller a few month prior to contracting.

Politely and clearly, make it extra clear that all information will be verified including income prior to the signing of any lease.  

You are afraid of rent control, but if you add an ADU and it is detached, the main house (if built prior to 1978) may eventually become subject to LA Rent Control. 3.