Many residential structures need to be ADA compliant.

I’d like to learn a little bit about being a landlord before I do so I’m compliant with laws and tax requirements etc.

My suggestion is to not waste any more time and proceed to FC.As far as mitigating the risk of the lawsuit, the best thing you can do is to make sure you and your servicer (as much as you can) are 100% compliant and doing everything by the book.

The DST has the advantage of being 1031 compliant as do the Tenant In Common (TIC structure), and for the most part any NNN stand alone or land lease.  

Also if that someone does miss something that's discovered during an audit, they get fined and not me (obviously a pattern will result in a severed relationship, so I keep everything compliant to the best of my ability so that final QC/compliance package is a slow ball I'm pitching their way that they can knock out of the park).

If you're looking to raise more capital look at doing an SEC compliant 506(C) with a Private Placement Memorandum and Form D as well as a full investor portal including flipbook for your presentation.

If a wrap is being used, and the existing underlying note is not assumable, then the note holder can accelerate the note at any time, demanding a payoff in full in a time period compliant with the laws of the state the property is located in.Many states, like Texas have state forms in which the blanks can be filled in to be used for an offer on residential property.

BTW, the BOCA codes (Nothing to do with the city in FL) will require electric outlets with special breakers on the new bedroom wall--both sides-- so to be compliant, you need to know what is required.Perhaps you can do an interior division yourself, however adding electrical outlets in a bedroom (or anywhere) in a rental, IMHO, should be done by licensed electrician (or at least inspected by one with a sign-off on the work).

You need a lease that is compliant with Cali law....

You will also need 60% of your commercial entries ADA compliant, meaning no steps. 2010 ADA part 206.4.1  From the pictures it looks like you will need to add a ramp.https://www.ada.gov/2010ADAstandards_index.htm