I think that there is a tendency to exaggerate with the weight given to the Cap Rate factor. 

It wasn't really legally binding, but it did give a little bit more weight and commitment to the process of  "Cash for Keys" and prevented them from bothering me after they left.  

A really good tenant is worth their weight in gold, so if you have one lined up,  and you've verified everything, I'd get a signed contract and deposit ASAP!

@Ginny DensonHard money lenders are going to look at everything you mentioned but each lender will weight that information differently. 

I weight in already on the larger scale projects, but I din't mention you can make the contractor to be insured with a bonding company. 

So trying to get hold of the old owner probably isn't too helpful since the judge will likely not give any weight to what he subjectively thought.

Although I'm a big Vanguard proponent for stocks, REI has a lot of weight on the operator and they can make a huge difference in your success, hence I'm not wanting that to be a big deal, just keep it simple.  

For those not in the business, the beams in the concrete footing adds rigidity to the slab, allowing it to support the weight of the house. 

If I were you, I'd really set 2-3 sit downs with investors in LA who've done this exact type of project, weight the pros and cons and then make a calculated decision on how to proceed. 

Is it because so much extra liability (weight rooms, pools, etc) as well as the additional cost (much more landscaping, pool cleaning, general area upkeep)?