I agree with Konstantin.I am not sure about CA laws (they are not very favorable to landlords from what I understand). 

Agreed But such a hike in such a short amount of time seems a bit unpredictable IMOThanks

Hello, I am seeking expert advice on any (dis)advantages between two scenarios.Context: I am a full-time employee who works from home, I do not report to an office.My employer (HQ in Portland, OR) employs hundreds of employees who are either 'remote' or have assigned 'desk locations' throughout the country. 

You also have mortgage insurance on top of that because of the 5% down.I agree with Peter-do what you can to save and put 20% down. 

I love this country mate but it's starting to resemble communism...The most thankless job in all of real estate is property management.It's almost impossible enough to find a legit operator like yourself and then folks request lower fee's.Unbelievable...I don't think folks understand how much time and effort is needed to property manage "properly" and the 10% is peanuts.Sure, if you pay in peanuts you will get a monkey heheTry self managing and many will come back crying in a few months.Just my opinion after pounding the PM pavement for 10+ years now 

The Surety company is agreeing to Guarantee the Bond amount if you do not perform and the bond is called. 

With regard to the "contractor agreement" you mentioned, I would absolutely get it in writing from the contractor exactly what work will be carried out, when it will be carried out and what is included for the agreed upon price. 

I always use the larger banks as there are branches located through out the country and the features they provide are greater than the small local banks.

But I agree with others that you should be able to underwrite the deal and understand it fully before investing.

Sometimes its smarter to sell due to the tax benefits our country provides (stepped up basis).