someone told me it would be a good idea to get, so i figured i would look into it more, the whole getting started sounded complicated and cost a good amount of money so i didn’t know if it would be worth it or not.

I have converted a SFH to legal duplex in Hamilton...it’s really not that complicated of a process.

Hi all,Nice duplex, stirred up some wasps when painted the exterior. Downstairs tenants say husband is highly allergic. So I throw them in a hotel for the night till I can get the exterminator there the next morning. ...

This is hopefully not as complicated as it might sound, but was wondering if any of the great minds on this forum have thoughts on best strategy for current situation.My husband's parents are fortunate enough to own two properties:House #1: A bungalow a few blocks from the beach in Venice Beach, CA - purchased for basically nothing in the 80s, own outright, probably worth about $1.2 million (guessing).House #2: A 3bed 2 bath amazing view house with guest house in Topanga, CA - purchased for basically nothing in the 80s, has a 350k mortgage on it, probably worth about $2 million.

The PM groups are completely unnecessary as they charge 5x normal rates in vacation areas.

This is just an unnecessary extra step that'll just waste your time.As for the loan, you can still get a residential loan via your LLC, but most likely you'll have to personally guarantee it.

And when you add in a wholesaler to the mix, you probably have an extra level of risk because now you're including another potential complication by adding in a middleman - essentially someone who is in between you (the buyer) and the other party to the transaction (the seller).However, with all that being said, there are ways (in my opinion) to limit your risk in these transactions:1)  Always thoroughly review the purchase contract that is being assigned to you. 

If you're planning on refinancing out of a short-term loan this is important.In general for rentals I'll delay unnecessary expenses as long as it doesn't prevent me from getting target rents & appraisal value and more damage won't be caused by the delay.

However, the flipper miscalculated rehab costs, and they claimed that things got complicated due to Covid-19 as they couldn't close buyers' escrows for a while. 

Covid complicates the closing process and I underestimated the impact on current tenants while a property is being sold.