Los Angeles does have strict rules limiting short-term rentals, but from the county's records website, it looks like this property doesn't fall under the local Rent Stabilization Ordinance.

CA is known for having strict laws compared to other states, so I don't want my first deal to ruin my career. 

Many lenders will let her just sign a Non-Homestead Affidavit which states that the property is not owner occupied or considered her homestead as we have very strict Homestead laws in Texas

All three banks I've worked with have said that loans over 1M strictly require a 20% down payment.

The problem keeping many investors out is the strict co-op boards, which are (slowly but surely) changing as more young people join these buildings and create by-laws that are a little less conservative.

If buyer doesn't go through with the deal, you may be able to keep the property on the market and be strict with the offers you are willing to accept until you're contract terminates.

It just depends on what your end goals are long term appreciation, cash flow, how quickly you are looking to scale, etc.There are other profitable areas in Grand Rapids but the city rental requirements are getting more strict just have to be aware of these. 

The banks keep saying that most banks have gotten more strict but it's hard to believe given how low rates have gotten in the past several months. 

You can take your time and find the best deal as opposed to having strict timelines as with a 1031 exchange.If you choose to continue investing in real estate, you start over with a fresh depreciation schedule in your new property.

My fault nonetheless but im wondering if this Landlord is being way to strict or if NSF's on an overall profile like mine is a big indicator of an undesirable tenant?