However, I'd like to better understand how to work within the legal requirements and the various roles involved.

Government has involvement has only raised prices (artificially) and kept the wheels of capitalism from turning.

I was mad when I first heard about it - and I'm not happy they'll be denying ME the opportunity to purchase & rent these homes myself - but it's the government, and big-money interests running this show, and they'll inevitably do a bad job of it.

How can this be changed and what are the costs involved?

Given how cheap money is nowadays, 2% if found provides VERY nice returns.Please note this assumes $0 repair cost after closing and excludes closing costs involved in the actual purchase.

3) Were there any rent credits involved?

The only reason they got involved was because I asked to split a unit.We did some wiring updating, gas line updating, sheet rock, and painting.

The skills involved in what J outlined are not trivial.

I will make sure to involve the stipulation regarding primary residence/rental property - I see I have some research to do in this department as well.

I have never met a California investor that has done a simultaneous closing with a title co involved in the last 5 years so Will was probably talking about CA.Most of the deals I wholesale are to other sophisticated investors who have MLS access too.