Many towns have rent control in addition to the state laws. 

They may even be wanting to sign an agreement and then assigne to the would be end rent to buy buyer.I’d keep control of the property myself.

. #2 - might be cost effective although the times I've gotten quotes on this approach, I wasn't too impressed with options for control within different spaces (for instance if you have a single room studio, sure - however if you have a 2 bedroom deal you need some separate feeds and that's not what these are designed for)..

This was primarily done so I could have more control over my own career/earnings, but I retained every aspect of the company (including it's 4 employees) and re-branded with a new name and mission as she was a great appraiser but not much of a businesswoman.I didn't have the liquid assets to buy the business outright, and it was a bit wonky in the math anyway since I was a top producer, my gross earnings couldn't really be factored in to the totals as I would have made that anywhere.

Interpreting leases:  Lease controls where it speaks on a topic (and not void or voidable under statute). 

What were were planning on is stating in the lease how the AC and heat would be programmed automatically.There is a gas "wood stove" to help heat the basement unit that the tenant would have exclusive control over.

You just have to make sure you get a condo with plenty of room in the cash flow margin, the one thing you can't control is the HOA monthly fee, If you buy the condo with a $200 a month cash flow and your HOA raises the dues $50 next year, then $50 four years from now, your cash flow has been cut in half four years into your long-term Buy-and-Hold investment.

Your state likely has a law that deals with security deposits and if it says something different than your lease, it will control. 

Looking for eviction attorney recommendations in Los Angeles, who knows the nuances of rent control and represent landlords.

It doesn't take much to lose control of your property and I would never advocate for actively giving up what limited control we have as landlords.