Hi All,Long time lurker here.

I'm needing to redo some foundation work and stucco on a garage conversion ADU in Long Beach.

Of course, if we have another available unit that's similar to the one they were looking at, I'll pivot to that and offer to move their current application over to that unit as long as they would still qualify under whatever the new unit's rent is. 

Focus on areas with sustainable taxes and long-term rental demand, targeting groups like college students, young professionals, or travel nurses.

Prepayment penalties- usually 1-5 year terms.

LoL So really trying to learn what I can, gain some capital, and see what my options could be for the year.I'd like turnkey and long term renters in place, as that seems like a good way to get started as a rookie. 

My ultimate goal would be to buy fixer-uppers to turn into long-term rentals.

Placed another 8 unit portfolio under contract in early March, unfortunately contract expired on April 23rd, couldn't secure favorable loan terms that wouldn't allow portfolio to meet cash flow numbers because banks changed lending practices due to Coronavirus pandemic.

Quote from @John Brown: Quote from @Katie Miller: Are you saying you would long-term rent it from your friend and then run it as a short-term rental? 

Most of the legit investors I know won't buy those deals out of principle, regardless of terms.