If not, go to the next deal which may be 500k, but net you 5x more monthly, and take the SAME amount of time to rehab and BRRRR that, but just find and start soon and the $500-800k BRRRR would by far be the better option for higher monthky positive cashflow...that would be your only loss here..inneficiency of a smaller project that could take the exact amount of time (think of code compliance or covid complications making your smaller project take a year... the same time a larger project could take) as a bigher price point project which yields 3-5x more a month.I have a local real estate investor partner that has used a lender for his projects and he gets very good terms with just 10% down, no interest until 2 months, and they have given him better and better terms after first starting a terms that weren't as good.

It’s complicated and it’s different every time based on the situation of the homeowner , their lender, and if there is a willing buyer.

He probably has no recourse against the GC.Scenario 2This will get complicated, but I’ll try to break it down as best I can.

Don't make it complicated.

Thanks to the relatively new statewide AB1482 law in California, if they've lived there for over 12 months, you can't terminate their tenancy (even if they're month-to-month tenants) unless: 1) The property qualifies for an exemption, or2) You have "just cause" You can read this for some basic info on this new law: https://cal-rha.org/legislative/ab-1482/However, given that this is a very complicated law and it's affecting every unit of your property, combined with the fact that it doesn't seem like your property manager is much help, I'd suggest you seek out a local/experienced landlord-tenant attorney for their guidance on the matter.Good luck and hope this works out for you.

@Adam Tafel - it's a little complicated.

It is a well developed and complicated market. 

Maybe this varies by county/city too.If anyone has done this, are there any major complications with rehabbing the house so there are two kitchens that connect to the same gas, etc?

If the changes are structural (involves the structural walls, foundation, or similar) the underwriting is more complicated than if it is just remodel the kitchen, paint, etc.The Liability covers your exposure as the owner of the property. 

I would talk to a lender to clarify what to expect for your situation.However - analyzing the overall business plan, equity structure, return metrics...etc for a syndication can get very complicated.