This is one way to manage costs risk.The ways to own the property besides FHA & conventional loans is with private loans, investor DSCR loans (non owner occupied); seller financing, lease options, partnering with others to take the property down..... 

We have seen maintenance costs skyrocket over the past 2-3 years and every case is different but here are some general guidelines for reputable (non-crackhead) investor level pricing in our area of operations:Furnace and A/C replacement with lineset for standard 3 bed 1 bath bungalow.

Most folks overestimate the cost to prepare a space for MTR, but you'll figure out cost-savings and improvements with every iteration.

My tenants lease is due to end 2/2/2025, is it 30 day notice or 60 day notice of non renewal in CA?

You can ask the prospective tenant about the addresses or simply do a Google search for those addresses and, if it belongs to an apartment complex, you can call the apartment to see if the tenant ever lived there.Public Records:This part of the credit report will list any judgments levied against the tenant -which includes garnishments or evictions that have a monetary claim.

I think I will need a car and an office space in the first few months itself.

Once unots come available, the best recourse may be to non renew.Gino

Dumb Debt also means that the owner takes on recourse debt and personally guarantees it instead of non-recourse debt or other people’s debt (OPD) or cross collateralizes it with highly appreciated assets with low debt to value ratios.

PIf it didn't smell when the tenant moved in, and if the trap hasn't dried out from non-use (or even if it has), then the tenant probably caused the smell. 

In many cases, it weakens the lender's position as they did not underwrite the buyer and an owner-occupant tends to pay better than non-owner-occupants.