The Lady that owns the mortgage is willing to work with me.

That's why I'm asking you fine ladies and men.I just wanted to say thanks to all those that read and those that respond.

The lady I bought it from said "I don't want to be paid back, I want the interest income".  

We have an elderly lady who sold her rentals, and put it with my company, she wanted it to compound. 

Joe,Check to see if American Modern Home or Foremost writes in CA. 

I received a call from an elderly lady today in Albanay GA.  

I checked into this aspect for an elderly relative once when she wanted to rent her downstairs to a quiet young lady and two young guys who she's a really scared of insisted they saw it first.I don't want someone then come in and say, but it's an LLC, couldn't be owner occupied.Remember, most of what you do if you also live in it is personal, and non deductible as a business expense.

I'm going to be updating and remodeling all the units to a nice and more modern look (New kitchen cabinets, tile floors, granite counters, etc).

Basically, the older the property, the more you'll spend to bring it to modernity.  

Wells Fargo: The lady I talked to had a lot of experience but 0 with my exact strategy but saw how it could work well.