Hello Everyone,I'm re-introducing myself after a year long hiatus.I'm looking forward to investing in this beautiful place we call the bay area & beyond.I don't have any investing experience, yet.But what I do have is 10 years of construction experience.I'm a Construction Superintendent for one of the big commercial players in the area.Started out as a Carpenter apprentice & worked my butt off to managing construction sites, from the field side.My main focus is TI's, think remodels of commercial office space.I will use REI to gain freedom of time, movement & energy.I'm looking forward to connecting with like minded individuals & learning a ton.Thanks,Torre 

Read the rent control regulation that went into effect.  

So Don, my understanding is that an Option is a one way agreement in which the buyer has full control (to purchase) and is usually initiated to "buy time" - such as in the case of a feasibility study for commercial property.

This gives plenty of time for a bad check to be discovered (which has never happened).I LOVE off platform bookings for the following reasons:My payment provider is cheaper than AirBnB and VRBOs.I have FULL control of the reservation.I have FULL control over the security deposits.I can enforce cancellation fees.I'm not a slave to the reviews.I receive the funds immediately, and don't have to pay the advanced payout fees.Guests pay the credit card fees (still cheaper than the VRBO / AirBnB fees so most are happy to do so)Guests appreciate saving on the fees.This is all VERY easy to setup using OwnerRez. 

HOA boards can be a fickle bunch, and unless you're running the show, you have no control over the fees they levy.On the other hand, your capex budget is already 18%, so maybe you're good there. 

What is your comfort level with control over your property?

Goofy initiatives like this with more rent controls are popping up all over the country. 

of course I would need self control and force myself to not overspend. 

You should not pay 70k for ~$650 in rent ($850 - HOA).I don't personally like anything with HOAs because I don't have control over when they are raised and each time they are cuts into your monthly cash flow and (double whammy) puts downward pressure on the asset value.The HOA doesn't cover any insurance? 

Depending on the property configuration, I would take two different courses:  A) reconfigure the utilities - relocate hot water heater, shutoffs, etc. to be under your control or B) Negotiate with the adjoining owners to get a key.