I suppose I could owner occupy a 2/1, then sell this place, and re-invest in another 3/2 that has better numbers...

@Daria B.Well if things don't line up or if it is discovered that items (like rental applications) are missing then I suppose you have a few options:Require that the seller get their stuff together and get the items prior to COE, potentially delaying the close date, or backing up deadlinesNegotiate on price and deal with the potential issues as the buyerTerminate the agreement and pursue another property

You are not supposed to use a FHA (or other conventional loans) for flipping.

Well, I suppose I'm doing it the other way around.  

A bit like everywhere else in California I suppose.

I suppose its probably smarter to learn the ropes with less exposure, in case operating expenses prove higher than anticipated or other things go wrong. 

I suppose you'll need, at minimum, a death certificate, whichever statutory affidavit is require signed and notarized by the transferor, and the appropriate Grant Deed, Warranty Deed or Personsl Rep's Deed.

It's a list of what items the contractor is supposed to use for reference when a light bulb to the carpet is in need replacing.

I suppose one role for lawyers is to manage accusations...

This time the turnkey process worked the way it was supposed to work.