I think it really just comes down to the individual property and where money has been spent or not spent over the years.

This is my first post, I been thinking on helping people to achieve financial freedom for quite some time now.

We ended up renting our SFR in california to an individual who requires a caretaker.

Our financial objective is to diversify our income.

Oh okay, I was thinking that one of the boxes may be to designate what I am, like  "Company" "individual" "corporation".

If it's commercial, then have them send you their P&L's, taxes, personal financial statements etc.

Here's how I attained both in a relatively short time:-I worked for a Big 4 Accounting Firm auditing the financial statements of the biggest names in real estate..

What strategies do you use to protect against financial downturns and is there anything to look for or negotiate when taking out a loan that can protect you?

I'd say you're close and you need more research, estimating full bath and half bath at the same price gives my thoughts a red flag that you're too green, although it is mostly accurate (but still low imo) as it evens out, but applied individually, it's dangerous at best.

I am a hardworking individual who is ready to jump head first into this industry.