If it is more than one investor and pooling funds and deals then that is a completely different animal where you would file for a SEC exemption through a form D then ahve to file with each state the investors are in and have a subscription agreement and other docs drafted. 

For a list that small you may get lucky and no one will notice but in general you can easily run into frequent litigators that are just waiting to get called and file suit.

What would I need to update / re-file? 

So now i need to file a dispossessory action to evict them under unlawful Detainer.

If you get audited, this will be good to have on file.3) That's tricky, the dash 4 grouping election is based on facts and circumstances.

@Anthony DupreCalifornia is generally more cumbersome than other states when it comes to taxes and filings.

Just make sure you file your taxes correctly.

@Matt J.As an out-of-state investor in San Diego, key tax and legal considerations include filing a California non-resident tax return for rental income or capital gains, managing double taxation with potential tax credits from your home state, and complying with withholding requirements on property sales.

This is what I think I know:- The borrower can choose to pay off the note at any time (by selling the property or just paying off the loan with other funds), so it is important that the legal balance covers my investment and some profit- The borrower could file bankruptcy (can someone confirm that this will only cause delay, but not jeopardize ultimately collecting the legal balance of the note)- Most of these DOTs will have a rent assignment clause, so I could try to enforce that and collect rents from tenants (essentially manage the property) while I am holding the note and trying to foreclose.

Its always best to review your file with an investor friendly mortgage broker like ourselves to see what are your best options in terms of financing your next deal and get a high level understanding on how to enter a property and also exit a property.