Business is based in California but I’m licensed to operate in Texas, Ohio, and Alabama in addition to California.

It specifically says it is not for real estate investment, but I believe you would be buying an operating business vs just real estate.This is so helpful Michael, thanks so much!  

If you can come in and operate effectively I think you'll find success rather quickly due to that.BTW - for a property management platform I would highly recommend Buildium.

The city operates on a block-by-block basis, and understanding those nuances takes legwork—or working with someone who truly knows the area.

Rarely do they like such units being operated in such way.

Property owners remain responsible for operations and maintenance, only because they retain full ownership.

@Matt Powers  Have you done any training, schooling in real estate investing? 

Here are some of the more longstanding discussions that may help to answer your questions.Specifically at Rent To Retirement, we operate a turnkey marketplace that focuses about 90% on A class, new construction properties located in growth markets.

@Matthew Drouin had a great reply:"Typically 50% of revenue is going to go right to operating expenses on small multi family. 

These are professionals with additional training and a stricter code of ethics.