Good question to ask when screening a PM is if they are real estate investors themselves.If you want a PM to be proactive or knowledgeable on where/when to add value (asset management assistance), find one that is an investor.

We are always here to assist in answering as many questions as you have & to work through any issues that come up along the way. 

Any law that tries to do otherwise conflicts with sb13 and ab2533 (unless the unpermitted units was created post dates of protection by those laws).i agree he should get it permitted especially if close to the price quoted, but issues due to unpermitted units that are protected be sb13 and/or ab2533 present minimal risk and if it does happen get HCD to assist in any issues. 

Let me know if I can be of assistance to you.

So for me, my model is to buy a discounted property, spend less on the rehab when I can, get it refinanced to get as much of my money out as possible, get a little bit higher than average rent, pass the repairs of all minor things onto the tenant buyer, help the tenant buyer qualify for a loan, contract to sell the property at around 10% higher than current market value within a 3 year period of time, pay very little in transaction costs, and then 1031 the gain into a new property or properties that I find from wholsalers that are priced below market value and just trade up and keep repeating the process.The cash flow helps offset vacancy and also pays my assistants to help manage my businesses.

If you want more assistance than this general answer, you'll need to post more specific facts about your situation.

@Kevin Collins you are asking for advice and I am taking time out of my day to actually give you a different view point in an attempt to help and assist you but you are upset it doesn't quite conform and confirm your thoughts in the way you expected. 

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I’m excited to connect with others here, share insights, and offer assistance wherever I can.

The good places to start investing at the moment are places within a 10 min drive from main urban centers, and which have different types of residents (not just tourism, not just workers, etc).Feel free to reach out in case we may be of assistance.