If one partner unconditionally guarantees the debt, this can sometimes require some side room guarantees to that partner to ensure no one recognizes a capital gain.As a few others have alluded to, there is a secondary problem known as a "debt financed distribution interest expense." 

I'm based on the west side of the Twin Cities and am investing on MN's North Shore (Duluth, Two Harbors, Grand Marais) The house were under contract for is a long-term duplex. 

I'm from Grand Rapids.I use a 11"x18" graph paper and a daily morning workflow - combined with Google Calendar.

And a little update on your grand-plan that CA needs to go hardline communist, take all the property and dictate what if any compensation for such will come, some day.....

Helps you stand apart from similar 4 bedroom homes and if you choose to pursue a rent by the room strategy in can create additional cash flow.

A year or so went by and I wondered did I leave enough room for the builder.

This property is unique in that we can rent out the whole property or we can rent out the property by individual rooms because each room has its own bathroom and it runs as a bed and breakfast.

Mentioning unique perks like 'Game Room,' 'Lake View,' or 'Pet-Friendly' can really draw people in.

Even if it's cleaning rooms, get a feel for the operations.

I use airbnb and rent out rooms to cover most of my mortgage.