In addition tenant flips take work and have costs.  

Would talk to contractors and get a sense of renovation costs and ARVs. 

Laws and deadlines are very specific and missing something will end up costing your time and money.

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I have talked to my lawyer and it is going to cost $902 to evict them.

Before being approached to help with the development costs, I had considered on buying after the development was complete; 4 lots then having 4 homes built, selling 2 and keeping the other two to rent out.

I'm wondering if the insurance costs are hiking up the expenses.

For a low-cost solution, you can create a simple Google form with custom questions and share the link with them.

Realistically, if rents can't keep up with costs over the longer term, fewer people will buy rentals and there will be fewer options for those who can't afford to or choose not to own a home.

Quote from @Paul T.: Nothing herein is legal advice.Effective July 1, 2024, California Civil Code section 1950.5 generally prohibits a landlord from collecting more than one month’s rent as security deposit, whether the rental is furnished or not.