I have multiple applicants that have applied. 2 look promising but both want to wait a month to  move in.

The only flaw I had was I purchased the property out right, where I should of applied for a mortage.

California's probate rules can be drastic in the event of death that having a proper estate plan in place can help in any number of situations, including if just traveling or incapacitated.These are all things you will want to discuss with your attorney and CPA.

I ended up evicting him because he continued to violate the no-pet rule.  

@James JeffersonHi James,To buy out the property you need to probably apply for a loan through any lender.  

This is a pretty old post - not sure why a newbie felt the need to resurrect the dead here - and I'm not sure the OP is still hanging around, but if he is:The first rule when you are in a hole is to stop digging.

The general rule of thumb when using debt is to ensure that whatever asset you buy with the debt should make more than the debt service.  

Homeowners, your tenants ARE RESPONSIBLE IF THEY VIOLATE SANITATION RULES, phone 311 to report them.Dont let nwo mafffia dictate otherwise.

What goes into proving that it is over 60% and when do you do it (before submitting for a permit or when you apply)?   

Quote from @Jake Bute: Good Afternoon,I listened to Wheelwright's podcast the other day discussing how short term rentals do not have the same rules as long-term rentals when it comes to some of the tax laws around active/passive investing.