The Kipling St deal resulted in a same-day flip, purchased for $197,000 and sold for $205,000, yielding an instant profit.

AB1482 states that "single-family homes/condos (residential real property that is alienable separate from the title to any other dwelling unit) are exempt from AB 1482 if (1) the owner is not a real estate investment trust, a corporation, or a limited liability company in which at least one member is a corporation and (2) the owner provides the tenant with a written notice of the exemption"The part that is confusing is "...a corporation, or a limited liability company in which at least one member is a corporation."

Between the walls where spirits dwell,I offer choices none can tell.To dwell today and own tomorrow,A future free from spectral sorrow.A chance to claim the haunted keep,What hidden pact do mortals reap?"

Negotiating the seller down on sale price from $200,000 - $185,000 to build some instant equity in the property.

My insurance provider has given me a warning that this will change my insurance from a standard dwelling/fire to a surplus line, specific to undergrad tenants. 

This property had strong potential for adding value, especially with its ADU (Accessory Dwelling Unit) potential.

Irs determination “You're considered to use a dwelling unit as a residence if you use it for personal purposes during the tax year for a number of days that's more than the greater of: 14 days, or. 10% of the total days you rent it to others at a fair rental price.”

As for me, if I were back to square one, knowing what I now know, I would instantly spend the money again for the program we invested in. 

Too many gurus make it seem like someone will have instant success and when they don't here comes the upsell.

Some dwelling policies allow for one unit to be owner occupied.