Quote from @Dan Grove: Hi friends,I'm starting to build a portfolio of long term rentals using creative finance. 

Also remember California is very tenant friendly, so if you did rent it and want to sell it, how much would that cost you (ie how much would you have to pay the tenant)?

I will provide some thoughts on the San Diego purchase- virtually all high LTV mls purchases since rates started to hike have negative cash flow at purchase- historically great appreciation- historically great rent growth but recently flattening- prop 13 is great benefit for long holds- laws keep getting less LL friendly.

From what I’ve read on BP, the city of Alexandria seems to be friendly towards STRsI would then also potentially rent out one of the upstairs bedrooms as a MTR or LTR.

Tyler Deveraux, Ryan Woolley, and their partners and sponsors they promote have gotten students and their families and friends into horrific situations with neglected properties and take no responsibility for it.

Try to get some experience by helping your friend with some of his projects.

I honestly thought to myself that both NY and Cali were very tenant friendly...

It probably be best as a friends-and-family type loan, but I don’t have anyone around me that is an appropriate lender.If I have to, I can put the funds in myself, but its inconvenient, and would come from investments that would need to be sold, taxed, etc.

And when you’re in an extremely tenant friendly state such as Colorado, this can be a nightmare situation. 

Asking for a friend who was told by his PM (reputable) to ignore it and that most investors don't bother to get their Grandview properties inspected/registered with the city.