A personal guarantee does in fact put the liability on the personal balance sheet.

GC is incompetent, has failed to get proper permits and has stalled on the balance of the work so seller just wants out.

The bank mortgage balance is 150k.

I gave them $16K down over several payments then recently borrowed $14K from a private lender to pay off the balance.

They would also automatically tie out with tenant's balances so you wouldn't need to update that.

Some people say, "No, all the investors will flood back in".. which is true, but so will all the sellers... and I think it will more or less balance each other out.  

These areas often provide a good balance of affordability and rental demand. 

We're considering our options for moving forward.Numbers:Purchased for ~ $230,000 (2.5% interest)Remaining balance ~ $220,000Appreciated to ~ $400,000Cash flow is ~ $500 a month after setting aside for all reservesOptions we're considering:1- Cash out refinance- at current market rates, rough estimate is that we could access close to $100,000 in equity, but our cash flow would go to $0 or possibly negative for a period.2- Sell now - if we sell before the end of the summer, we could still qualify for living in the property for 2 out of the last 5 years for the additional tax benefits.

If you are crushing it with smaller deals and find comfort and ease and low ROE (Return on Effort), then stay the course.If you want to scale, you may have to find a partner to help with capital and balance sheet.

This is because tenant really can break lease easier than LL, so might as well not have the lease to balance the power as it relates to lease termination   When does AB1482 apply:- is SFR then AB1482 does not apply- if triplex then AB1482 applies