But if you have nice stuff, no pets and are routinely clean, living in a flip might allow you to wait for a great offer vs feeling pressure to accept a lower one or worse mark the property down.

I received grant a couple of weeks after applying and weeks later I received noticed for loan $50k 30 years at 3.75% it’s cheap money but loan terms are strict.

Basing from a previous BP podcast episode the guest routinely starts refinancing paperwork upon closing on the property then freezes the process until he's ready to pull the trigger for the cashout.

@Shri Kanase Do you plan on living in the property or strictly rent it out?

We love that our tenants want to improve the place but we also want to maintain a strict business relationship with our tenants so we will be paying for the flooring and installation ourselves.

As mentioned above, LA has strict rent control laws, however, if the rent collected covers your expenses, you should be fine.

Some are more strict than others, and the main concern is that all of the work done, was done to code.

LTRs in my book the way I do it is strictly a 98% passive investment.  

Fell free to find a lawyer who's rate is within your budget.Flat rate is a lawyer pre-packaging time for routine activities where the amount of time is relatively well known. 

The health department has gotten a little more strict lately and you will have to manage the stream buffer in addition to well locations.