It will require more maintenance for sure as well as possible emergency pump outs which can disturb your guests.Do you currently have an alarm or gauge on the tank to see what the level is?

I'm struggling to comprehend the costs of the emergency plumber, restoration and then the new flood protection system.

So, they are still legally bedrooms in those cases, even with absence of closets.Typically, a bedroom needs 2 ways of emergency egress (way to get out of the room) - door or window.

I have multiple service guys I can call who will show up for emergencies.

I am planning to use hard money loans to finance these purchases and using my own capital as emergency/reserves.

While you can make a lot of money quickly in a market that suddenly became "hot", you can lose money equally quickly if the market goes down in a couple of months or years.Recently our team looked at nationwide data on the performance of long-term (traditional) rentals across the US housing market, and a few markets in Ohio emerged on top.

But I’d have my $8,000 cash I saved, for a down payment/emergency fund...

First true apartment complex that I bought was a 34-unit (mixed use property actually, 32 apartments and two retail storefronts) in an emerging market.

--------Here's a pretty comprehensive overview of all LA renter protections in place because of covid. https://housing.lacity.org/cov...I have read repeatedly that rent increase and eviction restrictions will not be lifted until a full year AFTER the Emergency Order has ended (this may apply to RSO units only but I don't think so).

Good luck.Here in cleveland, you can typically  use the finished third floor for bedrooms if you provide a window ladder for emergency egress.