Appraisal is the wild card and honestly not many ways around it other then a good agent...and even then can be hard.Catch the wrong appraiser on a bad day at worst your screwed at low price or beat case you challenge it and win...but this still takes time.Remove the appraisal and you have much more control of the situation but lack a lot of the lending options...But 30 day can still be done and is done often (and runs concurrently with inspection so assuming you get past that).

Ma & Pa investor don't know how to work the market (which has volatility, "flash crashes", hacks, hedge fund manipulation,) and plenty of outside influences outside of their control, that limit their growth.

When you are capable of a coherent thought, you sound like a shill for rent control.

Be sure to price the cost of decommissioning the boiler and installing HVAC that is controlled and paid for by residents.2) Old windows can be expensive to replace, especially if in a historic district.

You have NO control over the appraisal or commitment.

The HOA has control over your destiny in many ways.

When looking at investing in CA, you must know about rent control. 

I also was the company controller for a manufacturer for several years and have a degree in accounting. 

Pay rent, control the property, inherit it when he dies.

Regain control of the property .