This house does need lots of systems upgrading but interior is solid and beautiful - and over 5000 sq ft - over 65 windows, 15 rooms plus 4 bathrooms, single attached garage, full basement, corner lot.

That is the beauty of real estate my friend.

According to AB 1482, landlords are required to use the CPI from the previous April for their specific market area to calculate the allowable rent increase.Properties that are exempt from rent controlIn general, California rent increase law is aimed at multi-family apartment complexes and provides a number of exemptions, including the following:SFRs (single family residences)CondominiumsOwner-occupied duplexesMobile homesSchool, college, and university -dormitoriesHotelsRental properties built within 15 years prior to the Act, including ADUs (accessory dwelling units)Properties that are not owned by a corporation, REIT (real estate investment trust) or LLC where one member is a corporationProperty provided by non-profit organizationsProperty that is subject to pre-existing local ordinancesLandlords for exempt properties must provide a notice of exemption from AB 1482 to their tenants.

But, I did purchase two new short term rentals in January and the beach property is doing beautifully. 

Purchase price: $295,000 Cash invested: $30,000 Beautifully remodeled home by the Kiwanis Park.

Beautiful corner lot, found the right buyer and closed for a nice profit within the following next month.

I might know someone there....but here's the scoop with this:ADU's - there have been some guideline expansions regarding Accessory Dwelling Units (ADUs) just this month!  

I was afraid that I would have a nightmare tenant, but it actually worked out beautifully! 

Bought this beautiful 3bed 2bath Chalet to turn into a STR.

Purchase price: $9,500,000 Cash invested: $2,500,000 Sale price: $10,700,000 2100 Defoors Apartments.This was a beautiful 60 unit apartment complex in Buckhead Atlanta.