im in Orange County CA and there is a huge market here for room by room rentals here. i've been doing this for quite some time (over a decade now), and it certainly has its pro's and cons. my advice if you go about this is make sure you do proper vetting before moving someone in... not only for financials/ credit-worthiness, but also for temperament and expectations in a co-living space. we ask a lot of questions like "how do you handle conflict?"

He calls from a California cell phone, claims he is currently in Scottsdale AZ, and then has to look up Buckeye AZ on google maps to find out where I live.

Quote from @Gamal Harding: Anduril Industries' Expansion to Columbus: A Transformative Move for Real Estate InvestorsAnduril Industries, a prominent defense technology company based in Costa Mesa, California, has announced plans to establish a new manufacturing facility in Pickaway County, near Rickenbacker International Airport.

I would also think twice about selling if you're in CA.

U can buy a 3 bd 2 bad 1500 sq foot rancher in many mid west markets for 150 to 250k..Take the exact same house and put it in Palo Alto CA and its 2.5 mil to 4 mil.. so the agents in the SF Bay area make a lot of money because thats where they live and work agents in many mid west markets work just as hard but do not make anywhere near the same given their market and where they choose to live.. 2mil plus flips your obviously in a high priced coastal market or maybe Denver or ski areas or prime northern chicago etc etc..

In southern CA, even garage conversion ADU additions are typically costing more than the value added.  

Is just about consumer protection act.. their model was get CA investor to put up the money.. then sell to non English speaker on terms.. and rinse repeat.. 

I'm new to investing in rental properties and I live in one of the most expensive markets in CA. 

Hey John,I own 12 units in Detroit but currently live in California.

Try Note Servicing Center out of California or FCI.