I'm relatively new to real estate so I'm hoping you can offer some useful insight.Applicant 1: Excellent credit, low debt-to-income ratio, upper-middle-class income, very little available cash in bank account (cash is mostly in stock and retirement accounts)Applicant 2: Mediocre credit, better-than-average debt-to-income ratio, middle-class income, enough cash available to almost buy home outright.

Originally I put 600 credit and higher, but quickly found out that most people have 500s.

You may find a lender who would give you a line of credit on the equity.

My wife and I currently have an investment property in the Elk Grove area with 140k in equity and a home in North Oak Park with 90k ish in equity that we're currently airbnb'ing but would prefer to not have to go through the hassle of refi or pulling cash out with a traditional bank/credit union.Both have credit scores in the high 700's, low 800's and debt to income ratio of about 25% with a potential of being closer to 10%-15% if my wife finds out she passed the CA Bar this upcoming Friday!

First off, semantically  speaking, your discussion lacks a definition for the word "Legal"  While there are contracts in which a breach is a punishable offense, I am assuming you mean "Legal" in the "right to seek compensation for damages" sense.   

This deal we are closing with private money, rehabbing with a line of credit, and then will rent and refinance.

B.C. residents are also eligible for up to a $2,000 tax credit against this tax, effectively exempting the first $400K in value of the property from the tax.Tenancy Rules (tenant focused): There's a bunch but basically,Restrictions on deposits Restrictions on rental increasesRestrictions on evictionsProperty Taxes - We have those too!

The general terms would be 10% down by home buyer, 600+ credit score, 9-10% interest rate to home buyer, and legally originated by a registered MLO.My question is this: From my reading of posts and other research, the current yield on something like this a note buyer should expect is around 9-14% or therabouts. 

I actually still have to complete an official walk-through with a contractor and based the estimates on a complete remodel being done - as there is foundation damage and the roof has not been done since the house was purchased in 30yrs ago.

Strong wind gusts and very dry conditions aren't helping with fighting the blaze and trying to contain the raging wildfire that is causing so much damage and grief.Can you imagine, going to the grocery store or visiting a friend down the street, and an hour later seeing smoke a few miles away, not thinking much about it or being very worried about it...but a few minutes / hours later being forced by order to LEAVE NOW and a few hours later you find out that multiple people are considered missing and that almost the whole town was completely wiped out... as if a bomb went off and flatted the entire area..Well, this is very much a reality for people Northern California in Butt County.