But, under state law you can raise the rent with 30 days notice unless they've been in the unit OVER 12 months. 

This information ought to be complete and accurate, as any failure to provide complete and accurate information will certainly cause a delay and potentially be cause for denial.Further, the information provided ought to be easy to verify - this point is crucial and can not be understated.

If anything I wonder if you aren't understating the risk.

For instance, in CA now until 2025 under state law, you can have an ADU and a JDU on any SF property in the entire state, and all planning/building departments must allow it with only a 4' property setback. 

Needless to say after a few emails back and forth, the scaim begain to unfold,, Red flags begain poping up, once he started asking for money for his consultant,,BELOW IS A COPY OF THE EMAIL HE SENT.I have spoken with the consultant, closing and administration cost will apply as here under stated. 

I got started with SFR rentals, you certainly learn a lot along the way and adjust your plan from there, doing the math up front correctly cannot be understated. 

A lot of the FEMA maps possibly understate ongoing flood risks and I'm not sure that insurance companies will offer affordable coverage in the future.

The dangers of replacing your entire mortgage with a HELOC can not be understated, or even using a HELOC in the spreadsheet example above.