We ended speaking with the owner , changing management teams and after 2 months ended that agreement.

One town require so many parking spaces available for so much seating for restaurants that the owner couldn't meet.

Sounds like lower non qualified / qualified ratio is the way to reduce CGs and depreciation recap.Furthermore, 1 property is owned by my elderly mother and can future reduce CGs via step-up at passing (assuming current step-up tax law)Property 1 (CA Condo $800k FMV, $450k basis, 10 year owned as 2nd home, wife+I are owner)Rent 2 year in CA (24mo rule), 1031 to WA, rent 1 year before converting to primary residence for 5 year before sale.Is qualified use years 10 (2nd residence) + 5?

.- Most cities do NOT care if an owner lives in basement, but will not allow a tenant to unless baement has legal egress window.3) Check local statutes if any limitations on how many unrelated roommates are allowed.4) Check with local building dept to see if rental inspections and corresponding requirements.5) Local statutes allow locks on bedroom doors?

Most owners/GP/sponsors just review reports and re-process internally with staff.Serving PMs and investors is a much bigger market...

The website 51west.properties also scores low on scam advisor ("owner is using a service to hide their identity, high number of suspicious websites on the server, registrar has a high % of spammers and fraud sites, website is (very) young, website appears to be hosted by a company with a bad reputation", all according to https://www.scamadviser.com/check-website/51west.properties...)Trust your instincts. 

We just bought a house in a highly desired older neighborhood.The owner agreed to owner finance it with 5k down over 5 years at 0% interest.We did put some money into the house to fix it up some.The rental income will cover the payments.Always ask for owner financing, the answer might surprise you.Work with money partners to do more deals.Join your local Real Estate Club and learn new techniques and grow your network.

FHA-Owner Occupancy Loan, to limit down payment to be able to utilize for maintenance

I will agree that 4 unit owner occupied is a great way to go if you can manage it.

I contacted the owner, left a voicemail, and got a callback a week later.