Hello BP family, thanks for taking the time to help me with this dilemma!

South Bay cities: Long Beach, Carson, Torrance Beach cities: Redondo Beach, etc (probably out of my price range)Downtown LA, Koreatown, Midcity, Silver LakeCulver CityHollywood, Glendale areaI welcome any tips from your expertise and can PM you for contact info.

Hello Bigger Pockets,I have a dilemma regarding the transfer of a property from an elderly friend of the family to me.

Hey, Everybody.I'm Jim Huckfeldt, a residential real estate investor/rehabber who is applying expertise developed through a successful career in marketing communications to real estate.

Most problem solving is not reflected in the cap rate but are accounted for with below the line adjustments. 

I by no means am any sort of real estate expert nor do I claim any expertise whatsoever.  

With zoning, if you created an artificial two family (that is you have two leases) on a property zoned as a single-family, zoning will require you to solve it or, in most areas, face a daily fine.

Anything in real estate so much depends on the location, the type assets, surrounding amenities and what you expect it to do for you.I use Lockstate remote WiFi locks because they are currently the best and solve all the problems a modern smart-lock needs to accomplish: getting the right people through the door at the right times without me having to be there.I run and experiment with various Airbnb solutions:Manage villas for clients in TuscanyHost a turn of the century restored 6 room apartment in a quaint German city near the beach.Manage varying types of other apartments, condos, and houses in various locations in the USA and Europe.Keep in mind when dreaming of the "big bucks", it takes time to:Set up and maintain your Airbnb and various other accounts.Set up each new listing.Communicate with nice and not so nice guests.Factor in vacancies and damages.Outsource and manage cleaning and fixing team.Your dwelling needs to make at least the same income compared to the long-term rental if you're only looking to grow equity.

Some folks are experts at turning tax liens.....others do only mobile home parks....some make a ton solving probate issues or removing tax liens.....you gett my drift.  

Get to know them, and utilize their local expertise.