It isn't easy, but you'll learn a lot about underwriting from the process and know the ins and outs of the entire model, which makes using it, troubleshooting it, and adding to it much easier.

Wraps seems like an easy way to align all responsibilities and “rights”.  

It's simple but not always easy. 

Small is easy to maintain as long as renovations were done correctly.

Managing tenants is no easy task, it takes such a wide skill set. 

The most important rule is to have the cash flow of the new property be able to pay all its expenses, mortgage, AND the line of credit back.

Any good HML will be happy to share the contact info of borrowers so you can see how easy the process was and how well they treated the investor.Can you share a recent closing document or HUD?

.- The CA rules seem to have many rules related to financing such as seller must include appraisal, no balloon payments before 10 years, etc.

Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and there's amazing appreciation potential.

While they aren't the cheapest when you first buy them, Kwikset has locks that are easy to rekey without installing a new set of locks.