You'll find out how they "should" be handled by the board and then you can hold them accountable for following said rules or be in legal jeopardy for not following their own bylaws.

That leads to "hoarding cash" either in a checking account or in equity, because rule #1 of investing is don't lose capital.So I propose an Option D: Invest $100 in something you think is worth $120, but was worth $100 and it corrects to $75; you still get a 6% return, but now you need to pay to add value, which gets you to $100.

You never do reach out with borrowers before you own the note and you need to understand restrictions on borrower reach out within the states you own the notes in.

The only thing I would watch out for are the rules and regulations imposed by the city of Seattle for rentals within the city limits. 

A JV contract would stay in each parties possession, but in the event of a disagreement, you may end up in a civil court battle with no way to cloud the title until the judge made a ruling. 

If she fights you the fees run about $1500 but less than that if she doesn’t fight.In the meantime, play by the rules don’t make any mistakes and don’t get emotional.

I'm not a CPA, but I do know the depreciation rules.

Most properties around here that come up for sale on the MLS don't even get to the 1% rule.

I am still learning the art of evaluating the deal using things like COC return estimates, IRR estimates, 70& rule, 1% rule, etc. 

As a Southern California investor, keep in mind that properties are expensive in most areas that are desirable - you aren't likely to find the opportunities for properties that meet those "1% rule" or "2% rule" that you'll hear investors in some other states talking about.My personal preference would be to find a nearby property to start learning the ropes with before you go for something more distant, and that would help you draw a circle around your home to allow you to start digging into neighborhoods and getting a feel for prices.