I am a small business landlord.I am in the process of building and ADU in the backyard.

Here's an example:50% of the total price due at the time of booking.If they cancel 30 days prior, I refund the entire amount.If they cancel 15-29 days prior, they lose half of their reserve payment.The total price of booking is required 14 days prior to check-in.If they cancel within 14 days of check-in, the forfeit all funds collected.If I am able to rebook at any time during this process, then I refund their money, minus a processing fee.If they booked six days and I can only book three days, I will refund three days of their money. 

Have your credit scores ready to make this process smoother.

I'm going to start out with first position mortgage foreclosures (probably not the best idea to jump into a second position or HOA foreclosure until I fully understand the process), but even with the first position foreclosures, some of these deals seem too good to be true.

That is one of the tensions of a BRRRR that is overlooked - the better the job you do on the rehab, the less cash flow you get.So just something to consider - IF you sold your condo, you're not exchanging it for cash flow. 

Though, this process will be the same for the other state (if you created a CA LLC you may need to register it as a foreign LLC in the state in which you are doing business/holding property).

Basically my process now is to find a property that the numbers work with.

Rent-to-own or lease-to-own agreements can be a form of owner financing, where the buyer rents the property for a period of time with the option to purchase it at a later date.Check Eviction RecordsAn effective approach to identifying landlords who may be interested in owner financing is by reaching out to those who have faced tenant-related challenges and the demanding eviction process.

Screening is a huge learning process. 

I’m planning on finding a property in my area, living in it for a year while doing some minor improvements, then renting it out and repeating the process 😁.