We are constantly going on calls where we have to troubleshoot error codes by calling the Tech Support lines that are only moderately helpful.Now, in about five years, I think tankless heaters will be pretty much everywhere and will have most of the kinks worked out.

The ARV is pegged at $1,200,000 supported by nearby comps.I'm currently underwriting a 4bd 5ba luxury home that is approximately 3,000 sf in a Southern California affluent inland neighborhood in Los Angeles County.

Then I start listening and reading and learning and all these possibilities that I had never considered before, such as looking in my own back yard, financing options, etc.I also run (well, inherited and I'm keeping it on life support) a blog about vacant nuisance properties in DC.

Purchases should combine current cash flow and appreciation potential with a cash on cash return of at least 15% and projected IRR of 50% after 5 years on overall portfolio.Build real estate investment team including property management, real estate broker, mortgage broker / banker, investment partners, and other support professionals including accountant and lawyer.Sell West Seattle townhouse and buy new property with at least 4-8 doors and $1,000 cash flow per month (Invest up to $150K cash) through 1031 exchange.

I would welcome the opportunity to meet with you, discuss your goals and objectives and see how we might be able to support one other.Tony Pauroso757-645-8168

I agree it sounds like this would be too challenging and time consuming of a property.  

Only the most experienced investors with extremely deep pockets and a strong support team should venture out into what you are considering. 

I'm looking for somewhere that I can earn the knowledge I need  to succeed and also have the tools/support to become the best.

I believe your answer could be found on the California Department of Consumer Affairs website: http://www.dca.ca.gov/publications/landlordbook/wh...After reading it looks like you would have to pay an occupancy tax to the state, and provide room service, maid service, etc to treat it like a hotel and kick them out immediately.

@Sean - email that "ProMember" support email address and they'll help you - they're great!