I do make the sellers aware I have banks lined up ready to work with the structure I am proposing and have experience closing similarly structured deals in the past.

I'm born and raised in San Francisco and started off as an OOS investor as well back in 2021. 

Without rent control i either raise their rent far above market rents so they give me notice (my preferred method) or i simply do not renew their lease.

That's Property Management 101.If your PM didn't have this lined up and didn't make you aware of this limitation upfront, that's a red flag.

@Michael Baum @Drew Sygit I think you raise great legal questions.

Financial Highlights•Acquisition Price: $72,000•Renovation Costs: $35,600•Total Investment: $107,600•Funds: raised from personal savings and private lenderHow did you add value to the deal?

This one does have an attached (2 stall) garage, and perhaps the lot raises the value.   

Purchase price: $520,000 Raised 100% of the funds to buy this property.

The other alternative is to raise capital and be more of a fee developer, at least at the start.

Thanks for helping me.Regarding my first deal, I am aware that there might be repairs, maintenance, emergency fund, etc. for a normal real estate investment.