Most conventional banks won't give money for repairs though.

But is the more conventional choice.The 3rd home is a short sale about to list for $650,000 a 3 bed house with an illegal 1 bed ADU in back yard, the ADU rents at $1200 currently and the house would prob rent for $3000. 

I think my partner and I are definitely getting near the threshold where conventional lenders won't give us a commitment. 

10% down conventional mortgage. 

Charge tenant late fees and eviction fee.

Some lenders have a 3% or 5% conventional that may work.

Best bet would be conventional with maybe as low as 15-20% down.

California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.

Charge no more than 8% PM fees no other fees2.

The seller has no existing leases in place says is charging $500 a month but will furnish leases at closing, market rent is at least $840 a unit.