State laws can be very specific in this area, as they are in PA.According to our Landlord and Tenant Act of 1951, "No landlord may require a sum in excess of two months' rent to be deposited in escrow..."

My hesitation has always been the image of hassles with renters, knowing the law and unscrupulous lenders and realators.

A 24 unit will most definitely have maintenance and repairs, as well as cleaning fees and depending on your state laws you may be required to have on site maintenance and management once you start getting into that many units.

I hung my license with my father-in-law, a developer, for a couple years.

If not, check state law.

What new laws help and hurt us as investors?

The education you get to obtain a license is basically real estate law.

I read the new laws and it seems that family and employers still can gift.

Rents will only be able to be adjusted to what the going market rate is AND even more important, you will have to honor the previous owners lease with the tenants until it expires according to state law.

California hoa law is the Davis-Sterling Act, I think, and that spelling may be not quite correct.