A landlord, the local grocery store and the utility company etc have no business whatsoever knowing a tenants  SSN and if I were you avoid collecting them.

She suggests I'd best suited for commercial, but I need to cut my teeth in residential first.Regards, Richard

I cut my teeth on Robert Kiyosaki, the richest man in Babylon, four hour workweek, the millionaire next door, ect.

I have also seen no interest reserve whatsoever and while the cash needed on day of origination might seem much lower, once applied to the transaction, the cash requirement is actually much higher (albeit partially delayed in being required).

And, as you and others have said, you're now at big risk of holding open a place with no leverage whatsoever and if they pull out, you have no practical recourse and are likely out a month or more of that $3,000 monthly rent while you try to get someone else in.

If not done properly, this may be an issue down the road if the county gets involved for any reason whatsoever. 

Here in Florida, we can not turn off service whatsoever on an occupied property, and I’m sure california is the same.

So if they update their ordinance, or request I simply continue to pay the double fee even if they don't, no skin off my teeth.

i really think private lending is for individuals who are BOTH:(a) experienced business people or real estate investors, and(b) high net worth individuals.otherwise i'll just be blunt... i don't think it makes any sense whatsoever.

Depending on what you are doing, a good alternative to a single member LLC may be no LLC whatsoever.