If Sec8 should exist at all is, of course, a completely separate question. 

I will not be able to cover them under my existing Allstate Umbrella policy anymore since they would now be covered under another companies commercial policy which is why I am looking at this. 

He has paid off the entire mortgage but has an existing home equity line of credit (HELOC) on it worth $140k which he is to pay $700/month in interest.

If you have a slab you'll need to sawcut it to get a 4" waste line for the toilet installed and tie into existing waste line system. 

If they reimbursed rent from when you started the application that would be a huge improvement or if they could approve existing landlords that have proven themselves and catch up the paperwork and inspections after the tenant has signed the lease.I have 2 existing section 8 properties and I like the program.

Since the property is abandoned you will also need to keep the windows and doors boarded up during the redemption period if one exists on that piece of property.I was looking into an over the counter sale here in Tarrant County. 

For existing socal landlords, what is your opinion on this bill and what are you doing to mitigate risk IF it passes?

Most taxing jurisdictions will reassess periodically (every year or two or three) and recent sales will come up and be used to raise (rarely lower) the assessment.Assume taxes will be based on the higher of (1) your purchase price or (2) the existing taxes when creating an investment pro-forma. 

I didn’t raise $25 per year, instead, I have been raising rent from $50 to $150 each unit on existing tenants per year without any problem.  

Wondering what BP crowd thinks of the recent news tha the Federal Housing Finance Agency announced Tuesday that Fannie and Freddie will both be shutting down their single-family rental pilot programs and ending their participation in the single-family rental market, outside of their previously existing small investor programs – Fannie Mae’s Multiple Financed Properties and Freddie Mac’s Investment Property Mortgages.