We purchased the Park Model for $162k, and can claim around $30k cap exp for rehab, so tax basis of about $192k. 

Right now the MLS is averaging 80-85% of ARV, while most off-market inventory is hovering around 72-78%. 70% is a great benchmark to shoot for but in this market finding plentiful inventory at that margin is an unrealistic expectation.

When you claimed that the return would be a pedestrian 12.5%, you made the assumption that the sale would be the same price at year five.

Document everything with pictures in case they go to Small Claims....

If I tear down, build multifamily, and sell all units, would the 2 year rule still apply (assuming I get it all done in 3 years and still can claim 2 of the previous 5 years).

Although AB-832 protects tenants from eviction if they comply with the requirements, the unpaid rent is not forgiven or cancelled, and the landlord may take the tenant to small claims court starting on November 1, 2021 for any rent that is still unpaid. 

I took the 40-hour course and got certified to do lead abatement about 15 years ago and never was interested in getting involved with lead abatement.Lead is also found in older bathtubs when lead was put in the glazing and in ceramic tile.Personally, I think lead is more dangerous than asbestos because lead causes very serious mental issues for children children where they really do become mentally handicapped vs. the b.s. about mold and even when asbestos is present in a rental unit, or commercial building the chances that the asbestos is loose enough to circulate through the air is slim to none, but there are some rare claims.

Now the same people who created the problem are claiming that they're the solution to the problem.

Single-family home rental, 1/2 acre of land, tenants have lived there for a year, now they are claiming there are mice.

Depreciation must be claimed, which helps offset your AirBNB income from taxes.