I used the Nolo Press California lease in their CA landlord book.  

If the history shows that they've always paid on time, and rarely gave the previous landlord any hassle, I wouldn't even press for the extra $25.

I used the Nolo Press Landlord contracts and forms.  

Agree about Nolo Press.

As an investor it's one thing to take on a risk and understand the possible implications, as a retail buyer I think you'd be hard pressed to make the case to a judge in the event of something going wrong that they were fully aware of the potential for an issue to arise.It sounds like maybe you would be the one holding the wrap and selling on a CFD or option of some sort so you are still in the transaction until the underlying wrap is paid off.

I think you are going to be hard pressed to find A/B class properties that cash flow well.  

i think you'll be hard pressed to find a 20% COCR with a <$200k property that you're doing LTRs on. unless your BRRR it. then your COCR is infinite. so a better question might be, where can you BRRR with <$200k?

Are there alternatives I can press the seller to accept?

Nolo Press also has books on that.http://www.nolo.com/legal-encyclopedia/landlordsAnd, as mentioned, make sure you can manage properties legally in CA.http://homeguides.sfgate.com/california-requiremen...One way to get management experience, is to be a resident manager.  

I have one pressing newbie question though, in order to move a property into an LLC you have to have that mortgage paid in full or refinance under the LLC right?