Does Iron Bridge work there ( they are PDX based but I know they work in CA so that might not be a stretch for them)

@Cory SmithIf you are buying it as an LLC, all the roles and responsibilities can be ironed out in an operating agreement with the assistance of a real estate attorney.

And they're also identical in that they both trigger the due-on-sale clause (yes, 100% they both do).The only real distinctions I've ironed out are the following:BUYERS: Face the huge risk that their seller could face financial or legal trouble and lose the property; or, at the very least, have a hefty lien placed against it. 

(as an FYI he's open to also allowing me to partner on deals in addition to being the lender to gain experience flipping): the two options with private money are loans and equity. if you give a private loan, you're getting a fixed IR on a fixed timeline. if you bring funds to the table in exchange for equity in the deal, you'll benefit if the property does better than expected, and for long term holds, you'll get the  appreciation, debt paydown, and tax benefits associated with OWNING. the cons for each of the 2 options can be assumed based on those pros. as the 'sweat equity' partner, i prefer my partners actually have equity in the deal with me. i do long term buy & holds with value-add multifamily, so equity is a sweeter deal for someone who wants to building long term wealth.

I also found several fire hazards,  like 20+ plugs branching off of one outlet and still on under of pile of stuff, an iron plugged into a light socket that would have caught fire of the light had been turned on, etc.

If you own a home older than 1980, it likely still has some type of cast iron or galvanized steel plumbing.  

@Dan O'Neill@James WiseThanks for the warm welcome guys.Dan, I will PM you when my schedule gets ironed out for the next couple weeks.

We just closed (literally) on a 3/2 townhome (1691 sqft) in Iron Horse Village in Mesquite, TX.

Ironically enough California is also one of the most unfriendly state as far as lidigation goes.

They are specially handled with a hospitality mindset to ensure all stains are removed and then ironed.