You should only escalate issues to your attorney when necessary but definitely either have one on retainer or have a reliable contact that will get back to you ASAP.

No water retained from heavy rains?

Hey @Robert CollinsHere is how I would update you plan: buy the home > warranty deed home into land trust > assign LLC as beneficiary to land trust.You want to use a warranty deed to retain your title insurance.

You are able to purchase the property under your personal name retaining the favorable financing options, then transfer the property into a Land Trust  (which is excluded from the Due on Sale Clause since it is considered an Inter Vivos Trust and protected via the St Germain Act) and assign the beneficiary as the LLC to hold onto the liability protection.The other issue you will run into in California is the additional franchise fees, minimally starting at an annual $800 per LLC [and per child series.]

About a year and a half ago, when I was completing the first phase of my first BRRR-AirBnb, I gave a retainer to the one of the most respected real estate lawyers in town. 

Get an Attorney.There is a song with the refrain that "There must be 50 ways to leave your lover" There are more than that when it comes to getting out of a real estate contract.What you need to do is have a real estate attorney review the contract and determine how much of the earnest money, IF ANY, that you may retain as liquidated or agreed damages. 

It was apparently condo'ed out which is how the bank retained ownership of it's unit and why there is a management fee to whoever owns the complex.

I understand BRRRR is a way to acquire property and potentially retain cash, but it's infinitely more complicated investing out of state. 

You would probably be better served by retaining the advice from an accountant that is familiar with your particular scenario.

Thus:$1600 gross rent less $400 (25% vacancy/maintenance) = $1200 net rent$1200 less $1530 (piti) = -$330Thus a bank lender would have your retained condo at a negative rent of (-$330) on your condo if converted to a rental.