@Cathy MalmroseAll else aside, your son is essentially a landlord for this time and he could put together a lease agreement immediately (ideally with the help of an attorney), which outlines a security deposit in case of damages, requires the prior owner to obtain renters insurance, who pays utilities and any daily rent- especially a daily amount that’s high if they stay beyond a certain date.This would at least cover the primary points in a leaseback.I’m curious about when and how the sellers made the request to stay past closing that your son agreed to - was it just between the two parties or was the Realtor part of that conversation?

that’s obviously ideal.

What happens to your investment if you cause a car accident going to the movies this weekend and end up with a judgement?  

A property management team that manages properties nationwide would be ideal for I plan on buying real estate in Atlanta in the future, but any local recommendations would be appreciated too.

If you’re going to be all in the mid high 300’s then I hope your rents are $400+ also if you want to brrr, it is ideal not to use owner occupied loans for brrrr in general.

Being that I am in California and its not the easiest to cash flow what would be an ideal target for my Cash on Cash return to be? 

It’s not wrong, but it’s not ideal.

Ideally I can operate it as a prime STR for 3-5 years, devolve into a mid-term rental for 3-5, then operate it as a Long Term Rental until the market value and my equity conspire to make a cash-out refinance possible to restart this cycle for another 9-15 years.

My guess is that if you are asking about using FHA or DSCR, you are likely not in an ideal position to use a DSCR loan yet.I would recommend that you get in touch with a local realtor and explain your goals to them.

Financial Situation:- Single professional ($200k / annual salary)- Remote job (can work anywhere / establish permanent address anywhere)- ~$100k savings (between checking, index funds, and small crytpo portfolio)- Grew up in Southern California (I don't intend to invest in CA, but it is the market I am most familiar with so I am really looking for advice on how to confidently branch out to other more affordable markets with better ROI)- Dad is a real estate developer based out of Southwest Colorado (considered stepping into this market, but not familiar with it's ROI compared to other states commonly mentioned here)Goals:- Develop passive income streams to match/exceed current salary (I'm trying to escape 9-5 life ASAP)- I plan to utilize an FHA loan to minimize my down payment on my first property (ideally looking for a 4+ unit building where I would rent the smallest unit for myself and maximize the rent from the larger units).