Read as many RE books as you can get your hands on.

Good morning, does anybody have a CAD business/free lancer that they recommend?

A structure a LOT more "fair" would be: You hand deliver the project on a silver platter WITH an assigned value for this, that will come right off the top of profits to you. 

I don't know the numbers on your property, so I'll create a hypothetical:Assume your principal and interest on a $300k loan is $1,263.You're sitting on the potential to get $155k (tax free, btw), but the rate will be 7.5%, taking you're principal and interest to $2,100.Yes, it's $900/month more, but you have $155k of tax free money in the bank.

Start with BiggerPockets Ultimate Beginners Guide (free).

If you are wanting to find out if it is legal or not, check out Zimas.LaCity.Org, type in the address and go under permitting on the left hand side.

An LLC is not free.

On the other hand, Option 2 with the BRRRR strategy entails owning a single property outright, building long-term equity, and potentially cashing out through renovations, but it's a slower ride, relying on successful renovations and favorable refinancing options, and you're starting with just one property, which may limit your income potential.

Feel free to reach out to see if we are a good fit or if we can point you in the right direction.

On the other hand, sometimes it irks me when I book a 5 star rated place and it's disgusting inside and the beds are awful.