It is not illegal as long as they aren't hidden and aren't in bedrooms or bathrooms...I have two in the common areas.

The most common asset type was commercial multis 7-10 units. 

If you have hired a specialist to perform a cost segregation study of your real estate property, they will likely use one of the six most common methodologies recognized by the IRS.

You may want to live in a world of Wild West, anything goes business (I won't mention the orange haired political elephant in the room) but I assure you, your ignorant, uninformed, and weak defense of this sort of activity is not common.

The new pref equity is given priority to the original pref and/or common equity.

Lack of provisions for dispute resolution is a common oversight.

Quote from @Evan Ross: One of the most common mistakes I see with amateur landlords: attempting to build goodwill with their tenants.

Please note that contrary to common belief a lender can NOT prohibit a transfer, they could only declare such transfer a item that allows them to accelerate the note.Up until now, very few notes have been “called” due when title has transferred.  

Common misconception that the fed funds controls mortgage rates but that is not how it works. 

This is a common problem for other places besides California.Most of my clients are out-of-state investors-California being one of the most common places for investors I work with.I would say, in general, it is very similar to in-state investing in that your investment is as good as the team you use.