But I interpreted this seasoning requirement to not apply if there's no first mortgage on the property (initial purchase was all cash). https://selling-guide.fanniemae.com/sel/b2-1.3-03/cash-out-r...

Is that not how people here in the forums interpret the methodology? 

Homeowners considering these developments should focus on getting a clear read of how welcoming their city is to this legislation as a first step, including their interpretation of the requirements and their projected timeline to implement it. 

In the end, we’ll all benefit from personal experiences and how LA county interprets SB9 regulations so we can all better prepare and plan for our projects in the foreseeable future.

The only difference is that we have a good faith basis for believing our interpretation of the regulation may be correct, and will abide by the commission's ruling if we are wrong.

Your local Realtor association that administers the MLS may interpret this as possibly a net listing (illegal in some states like Alabama).

So you're interpreting the MLS rules to say that the "seller" is different from "owner'?  

If you are new, it is very hard to interpret wholesalers and I agree with Shiloh, most wholesalers are not worth our time. 

Most state utility billing questions are black and white -- there's no personal interpretation needed.

In these cases, you deal with ethical issues and the possibility that your interpretation of what is allowed may be incorrect.