Yeah, It's a ton of money. my thought would be after installing the solar, separating out the meters and then having the tenant pay their own electric, but I would keep the meter with the solar running thru it and apply the unused credits to electric accounts on some of my other properties, and not offsetting the tenant's meters.

Based on national averages, the home should rent for $1,500 or more.If you don't keep up with market rates you will attract lower-quality renters, you won't have money to make major repairs, and you'll eventually get behind on maintaining the property, which means it will appreciate slower, attract worse renters, rent for lower rates, etc.

In person its a place I could see maybe doing an investment or two in but its not where I really want to set up shop (I mean that literally; set up a home and also set up a wood shop - so I can build custom cabinets and stuff).If Santa Cruz, CA ever goes on sale then I'll go there and suck it up with CA laws and cost of living, but for the foreseeable future it is not even a remotely viable option; I looked at a fourplex there generating $10k in monthly income and priced at $2,700,000. 

The increases aren't keeping up with my property tax increases but I don't want this tenant to move out.

The statute also uses the word "notwithstanding" which would mean whatever the CC&R's say, the law overrides it.

I just did the math myself and you're looking at $300/mo per property or something like that (of course depends on where you are and what you buy).Take it slower - buy one very good property (preferably a serious fixer) and get it done, then Re-Fi and keep moving....

Keep studying these resources and by the time you're in a position to purchase, you can be sure you're ready to jump on the right deal when it comes up

They keep their loans in house and do not sell them.

I don't mean to be rude here, but the fact that you are getting offers and you aren't sure what they are or the strategy behind them tells me that you shouldn't be doing a FSBO. 

@Anthony LeodoroThis sounds like your primary residence If so, then yes just because you have equity does not mean that you can gain access to it unless you can afford the payments.