This is for information purposes only an does not constitute a rate lock, and the interest rate is subject to changebased on prevailing interest rates.Estimate Date: 10/20/2023Preliminary Estimate of CostsRental Loan - FixedEstimate Date: 10/20/2023BORROWER SUMMARYBorrower TBD, LLCEstimated Value Of Property $ 1,448,000Number of Properties 8Borrower Credit Score 700Term and Amortization Period 30 yearsLoan Amount79.38% LTV$ 1,149,350PAYOFFS AND LOAN COSTSPurchase Price of Properties $ 1,448,000Payoff of Mortgage(s) on Properties $ 0Origination Fee $ 11,494Buy Down/Buy Up Not Opted $ 0Underwriting and Processing Fee $ 6,373Legal Fee $ 1,500Broker Fee $ 34,481Broker Processing Fee N/AIMPOUNDS & 3RD PARTY TITLE FEESEstimated 3rd Party Closing Costs (title, reconciliation, etc.) $ 12,000Estimated 6 Month Tax Impound, Subject to Change $ 7,660Estimated 6 Month Insurance Impound, Subject to Change $ 2,075Interest Reserve Escrow $ 0Estimated Cash Due From Borrower at Close 1 $ -370,784RATEQualifying Interest Rate 9.250 %Rate Buy Up/Buy Down 0.000 %5 Year Prepayment Penalty: 5, 4, 3, 2, 1 0.000 %Initial Fixed Interest Rate 2 9.250 %MONTHLY PAYMENTSMonthly Principal & Interest Payment $ 9,455Monthly Payment of Taxes and Insurance $ 1,622Monthly Payment of HOA Dues, paid to HOA $ 0Total Monthly Payment (PITI) $ 11,078RENTAL INCOMEEstimated Monthly Rental Income $ 18,241Rent to Debt Service Ratio 1.65ADDITIONAL INFORMATION1.

I would file a declaratory relief suit to have the property abandoned and get service by publication on the unknown defendants that way.

Especially if you're using a leasing agent, it may not be financially ideal, but if you really don't see it moving in the right direction, it's worth the mental relief. 

AB 2179 Passes Extending Non-Payment of Rent Protections Statewide AB 2179 extends notice requirements and eviction procedures originally enacted by the COVID-19 Tenant Relief Act and Recovery Act enacted in 2020.

Make lawful deductions from the Security Deposit, document accordingly, and send your reconciliation accounting to the Tenant's forwarding address if known, or to them at the Rental Address, Certified Mail, Return Receipt Requested.

Local LL/Tenant; State and Federal Fair Housing and Fair Credit Reporting; Servicemembers Civil Relief Act (if you are near Military bases); and a variety of others.

If they do not pay rent, and their security deposit isn't sufficient to cover what they owe (in rent or in repairs), they will then have a negative balance on their deposit reconciliation you send them within 14 days of them moving out.

if you're talking about a deposit reconciliation, then yes.

From the stories I heard the arbitrager had made their profit, so it was ok and a bit of a relief even though most had plenty of traveling nurses that needing housing. 

The ADU Pilot Program allows a path for these units to be "Legally Added" without the Zoning Relief portion.That being said, it Does Nothing when it comes to the legalization of the Existing illegal unit, or for the building department.