@Dale Abella The important thing to remember in this situation is that although he is your friend, you are also his landlord and he needs to follow all the rules and regulations provided in the lease.

I can't get it from the horse's mouth here as to the regulations, but supposedly if you have a septic tank fail and the county learns about it, you're on the hook to remediate the damage and then connect to the sewer.

@Mike Lin, Just a disclaimer first - I'm not totally up to date on all the SF regulations cause things have changed a bit the last few years. 

There are no real differences outside of the regular discretions in finance, taxation and regulation between the two countries.  

However, in virtually all the proposed regulations limiting STRs, the owner occupied STR is typically exempted.

They exist within a set of established codes and regulations.

By getting detailed, verified comparables from the new appraiser, most appraisers will fairly evaluate them, lest they run afoul of the licensing organization's rules and regulations.

The only way to confirm lead is with an XRF gun, which only the lead professionals have because its a regulated itemPeople do get a little funny about lead paint inspections though.

I understand why US banks don't lend on foreign properties, because when it comes to foreclose, it's not easy, and different rules/regulations of other countries etc.Has anyone financed a foreign property with a bank, credit union, lender of any kind from the US?  

  : )  Definitely check your STR regulations first, then you can start assessing the numbers and figure out if an STR is right for your family.