Leasing Management Program Overview The Leasing Management Program will involve the following activities: • Annual review of all units via the tax assessor database to identify potential "hidden" leasing situations. • Creation and maintenance of a list of all units/owners approved for leasing. • Creation and maintenance of a leasing waiting list for homeowners requesting to lease their units. • Creation and maintenance of a list of tenants' names and contact information. • Inclusion of tenants in the association website with "renter" level access. • Inclusion of tenants in the violation system, including sending notices to them when needed. • Regular monitoring of approved leases to ensure proper actions are taken at the leasing expiration and renewal dates. • Preparation of quarterly reports for the Board of Directors outlining the current status of the leasing program. • Coordination with the Association attorney as needed for enforcement of the leasing provisions. • Assessment and collection of costs for this program from the leased units by the authority of the Community Covenants, Conditions, and Restrictions (CCRs), $150/year.

This can be less adversarial and often less costly than going to court.Given the complexities involved, especially with real estate investments and an LLC, it's advisable to work with professionals who can guide you through the financial, legal, and tax aspects of the division.

The deal involves buying an existing single-family house for $700k that conveys with a vacant lot.

If it's low-income housing, it typically involves higher risk, but if you have good, trustworthy tenants, the hassle of changing locks might not be worthwhile.

If so, that would be a good starting out point as $20k can be enough with a hard money loan and a lower value property (although likely challenging in CA).DSCR Loans are an option for turnkey and a refinance - there is no DTI involved in the qualification so salary does not matter

Stay involved in the renovation process with regular site visits and open communication with contractors to keep close tabs on the project.

The city has diverse neighborhoods, ranging from historic homes to more affordable areas, catering to various investment strategies.

Clarify all fees involved, including acquisition, management, and disposition fees.

Cons are the cost involved in (both time and money) and loosing out on having a professional to guide you through the process. 

How involved do I want to be in this project?