It's probably easier to pay for an hour of attorney time than it is to spend countless hours trying to navigate California law.

What I wouldn't give for a good Korean BBQ...lol.

However, your current situation is very similar to my own while navigating through the first time homebuyer process.

Without knowing the address, this property would likely need to be your primary residence (4% tax rate) to be eligible.Happy to chat about navigating all the rules and regulations!

You'll most likely have to navigate through many, but in my experience asking the following questions can help save time. 

Sharing knowledge and insights can be incredibly valuable, especially when it comes to navigating a different market.If you fit this description or know someone who does, please reach out to me.

I've seen too many investors get sucked into these places that take incredible savvy to navigate, & their investment career is over.

I'm curious to hear how to best plan and budget for this.What specific measures have you taken to manage and optimize the costs and coverage of insurance policies for your multifamily housing investments, and what advice would you give to fellow investors navigating this complex area of risk management?

Ultimately, your friend needs to work with a financial advisor or lender who can help him navigate this situation legally and ethically.

I'd love to connect as I am an investor focused agent and for the past 5 years my team has specialized in helping investors navigate CLE RE.