If you already have a super low rate a cash-out ReFi doesn't help. 

So I’d call it a wash.That puts the cap rate in the 9 range.  

.------------------------------------• 0-6 Months (Delayed Purchase, no Rehab completed) - up to 80% of purchase price• 6+ Months (Cash-Out Refinance, no Rehab completed) - up to 75% of appraised value• 0-3 Months (Cash-out refi, Rehab completed) - 75% of appraised value [good rates]• 3-6 Months (Cash-out refi, Rehab completed) - 75% of appraised value [best rates]

You are just effectively paying you Canadian tax rates.  

For example, instead of an initial 6-month lease at $1,200/month, and then re-renting it in the summer with a higher rental rate, you could market it as a 16-18 month lease term (again, great suggestion by Tim) at $1,600/month with a "1 Month of Free Rent" special which you could either divide evenly across just the first 4-6 months of the lease, or prorate over the entirety of their lease term.  

or was it more of a "I COULD live here if need be" but the issues was ultimately dropped? 

Water in Los Angeles is expensive and the rates go up if there is an ADU. 

It can be a simple one page contract b/w you too at an agreed upon rate.

Rates are pretty low, maybe $30-50/night.

Are there lenders that will lend on the product at competitive rates that are similar to current 30 yr sfh amortization?