Hello, we own and live in an 1150 SF single family on a 5200 sf lot with alley access in Encino.

Maybe one unit that has a better view or easier access to an amenity...etc. 

Did you access funding?  

Also, sheriff's sales are no access so you are buying sight unseen.

There are some great mileage tracking apps out there that make it easy. 

And you can tailor it to you, so 1) You certainly don't have to charge 100% while vacant (dependent on bldg. layout, thermostat access, etc.) and 2) You can tailor the Gas/Electric as you have brought up so maybe 50/50 all except 60 unit 1/40 unit 2 for electricity... etc. 

Cash-Out Limits: How much equity can you access?

Pillow cases take a beating so we have extras of those.Whatever you choose, make sure you have 3 sets of everything to facilitate easy, quick turn overs.

It won't be easy but can be done

A lot of properties don't enough spread to even meet that minimum, so it just ends up being the new assessment ratio.It's actually really easy to fill out the application and submit, but they will not respond and tell you whether or not it's been approved.