I am surprised but people in SF Bay Area are still buying properties over $2M as if they don’t care about $30-$35K of property insurance plus the interest on the debt over $750K.

This way, 1) if they are not caring after their pets the way they are supposed to - you charge them for the damages in real time versus at the end of their lease term (hoping there's enough in the security deposit) and 2) you're not surprised when they finally do turn over keys.Good luck! 

Homes are clearly outdated and need things taken care of like lead paint, new windows, paint, etc. 

So if you purchase this outside of California, you must have your local infrastructure in place to help you take care of the property. 

This would give a definite buyer in the contractor who would now have "skin" in the game for refinancing from a bank.

This would give a definite buyer in the contractor who would now have "skin" in the game for refinancing from a bank.

The IRS does not care whether it is a conventional loan, private loan, gift from a friend, sale of stock, savings, robbing your child's piggy bank or wherever you have access to money. 

Take care.

1.) renting as is- Usually folks who are interested in the house are not going to care for the property.

Your work will be at the beginning, being careful with your money.