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.

Both charge a small fee that's paid by the customer.

If their decision is still not made in time you will have to charge the tenant anyway and work it out after the decision is made.Better to not do your tenant any favours and work with your HOA to get it decided asap.

But I probably should have included in the contract that if they exceed the “average” utility consumption I oils charge then a fee.

I charged $350/week for a house with 2 bedrooms, a kitchen, washer/dryer, etc. 

25% down, 30 yr fixed conventional Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

It would also make it hard to refi out any equity in the future.The other option is to consider using these as airbnb but these would be fully furnished and charged by the night.