Which won't be a terrible idea since rates should be declining at the same time.

Also, let me know if you think a 6%ish interest rate and 10% down is not right either.

Can they still get an accredited investor rating?

Wishing you all the best.

The agreed upon interest rate is 5% amortized over 40 years, but in reality the buyer is reducing that to 30 years by paying 2969.80/month. 

Since the owner is not able to deliver the unit vacant at closing and his currently in court with the tenant, I’m asking to know what is the best course of action.As a landlord, I understand that I may have to deal with eviction.

That being said, I want to waste no time in figuring out what the next best move would be, especially as someone who's interested in the buy-and-hold strategy and in managing my own properties (at least in the beginning). 

Best areas for long term buy and hold?

I’m aware California is not the best market, with the restrictions and potential new tax coming up, etc, but we have personal reasons to invest there.With that said, we visited a lot of houses in the San Diego area and saw 2 that seem like a potential fit for us: one is a smaller 3 bedroom but a mile from the beach and the other is a 15-17min drive to the beach, but bigger with 4 bedroom and a little cheaper, which would allow us some cushion to invest on a hot tub or potential pool.

@Katrina Dividina  you are experienced so hopefully this is just forum-splaining :) just make sure the zoning allows it...sober living is usually addressed individually in the code and has its own hoops.Banks are charging 7.9% now and probably up so I would want a deal on the rate from the owner--where is he going to get 8%??