Getting the inspection also affords you access to the inspector/plumber who is looking at hundreds of sewer lines everyday, probably of that same building age. 

Many California tenants know the law better than the landlords and they have free access to legal assistance.

Access from 390, 290, i90, 53 make it an ideal location 

Pros/Cons:    - do you need to make structural changes to meet the ADA, zoning, or fire code for the new use ( ie ramps, wider doorways, accessible bathrooms, etc 

They restricted short-term rentals to one guest per month, then they said only one guest every 90 days.

We have a single-family long-term rental in Port Charlotte that we'd like to keep the current mortgage rate, but we do have some equity we'd like to have access to. 

The issue you are trying to solve is getting the cash in hand to purchase the new home, potentially looking at a financial product to access the equity in the property?

Grab a cup of coffee and do a deep dive.https://www.stlouis-mo.gov/nst/documents/inforent.cfmI would also check to see if you are in an HOA and if they have any restrictions. 

My brother looked at about 50 houses and they all had some form of lack of permitting, back taxes, no legal road access, etc.2.  

Unlike traditional real estate notes is something that is easy to do from afar since you do not get access to the interior anyways so there is nothing you can physically inspect.You are correct that you will get $500-$600 a month in payments but also recognize its taxed at ordinary rates...