I would bet this tenant had trouble with a past landlord claiming she didn't pay or on time or something like that. 

I think your best bet is to talk directly with a foreclosure attorney practicing in the state. 

I bet you my panties you will see several IC sites on the top.. always.Coincidence?

I bet there is going to be plenty of turnover which means several hundred $$ to make repairs every time someone moves out.$600+ for a one bed one bath with 2 other units right next to you is WAY over priced. 

Check out my web page: anitasrentals.com and contact me from there and we can arrange a call.

Also you want to know if there are any security deposits and/or ;last months rents that need to be transferred to you as you can bet that if the tenant leaves they will claim they gave the previous landlord both of these items!

im working on creating a web of sub contractors, which most of them are friends of mine... im a barber and everyday i have clientele that work in construction, i know builders,sub contractors , general contractors, remodeling contractors im also a former construction worker.. i know alot of skilled workers that only work around the area.. my question was if i can refinance using every new construction as leverage and is there a limit to it...?

With that said, the HELOC is definitely the best bet because you only pay interest on the money you use. 

Or, if Santa Barbara does not permit any STRs at all, they might just be betting they won't get caught (not a wise course of action, IMO).Definitely do the research, because if there's a way to do it legally, I'm sure you could make a killing from an apartment like that.  

Yes yes this is my own personal definition here, just go with it.If you are on BiggerPockets, and you have a business as an investor, and you want to become wealthy doing this...And I bet we all are...You don't do the work yourself.