This was my seed money to start my business.Aug 2021 - My first rental property was a side by side town house that required me to put down $55K and generated $950 per month in cashflow. 

I'm planning on putting 25% down because that is a requirement of the loan.

I was ready to submit an offer, but I called my GC first, and he strongly advised against flipping in Coronado due to the strict permit requirements.

The world of real estate has changed.The result of the lawsuits is that a REALTOR® is now required to have an exclusive buyer's agreement before stepping into/onto any property on a potential buyer's behalf.

In those cases, the title company guided us on the necessary steps to resolve the title issues, and we did whatever was required to close the deal.

Is this a conversion that will also require substantial renovations?

It may require different insurance too..

You may be required to make estimated tax payments when the property sells.It depends on what your 2024 total taxes due were and 2025 estimated total taxes / withholding / estimated payments are.If you pay in atleast 90% of the current year tax or 100% / 110%(Depending on 2024 income), you are normally considered good.You may want to consult with an accountant for more clarification.

The only thing the bank required is that I had a checking account with direct deposit setup into their account. 

LLC Transfer & the Due on Sale Clause•HELOC: If you take out a Home Equity Line of Credit (HELOC) on your rental, most lenders require the property to stay in your name.