The South LA meetup will be held this Saturday (June 16) at 10 am. 

They also take time to learn the area in more than just a superficial manner.No doubt that there are "better" opportunities in areas where the numbers make more sense, but a weekend Wells Fargo "Investor Seminar" held in the Bay Area doesn't give you all the tools you need to successfully operate in a place with which you are totally unfamiliar (personal anecdote).

I held a broker license for about 30 years in Texas. 

We will now allow time held in an LLC that is controlled or majority owned by the borrower(s) to count towards the borrower's six-month ownership requirement."

Has anyone been to a Seminar where it was strictly networking or are most seminars held by Guru's trying to sell their product?

You still may be held liable anyway if you knowingly allow them to keep a dog with a bite history.If the tenant has a guest over doing keg stands and the bust their head open or the guest trips on a skate board, slips on a banana peel, or whatever - do you want the guest to sue you or the tenant?

And while it may sound crazy to some, this is the first family I've had that literally has NO common sense and needs their hands held while turning on and off the water. 

I think if we held as a rentak it would be 85% ltv and 5.5% at 7 year fixed

It will possibly matter though how the property is titled or held, if in any entities.The fact that you're talking about buying it at below market rates, is a potential problem though. 

However, you will need high FICO above 740 and will not be hand held.