Lots of great locals/agents here that can give you Cali specific info. 

You can google to specifics of how you do it and even watch some cool time lapse videos on YOUTUBE.

I opted for traditional bank financing, leveraging cash reserves I had accumulated over time specifically for investment opportunities like this.

It mostly just caused a lot of headaches and time but it will cost them some money to rebrand and some legal advice. 

@Jamie Powers you will need to check with the city for specific local laws, but you should be good with 60 days notice.Good Investing...

It does seem that it has potential, but that would depend on more specific spots within Beaver Falls. 

If they want to put limits on future contacts that is different than passing a law that changes a contract between 2 consenting, competent parties that was legal when entered into.When rent control is first passed and applied to existing leases, the government is changing the contract.  

If you have any questions or considering a specific asset class to get into, your in the right place.

The process is certainly legal, but the articles have been implying that there may have been some title fraud going on to expedite the process (even in cases where the property was legally acquired). 

For specific tax questions about Nevada it's best to talk to a local CPA that knows your exact situation.