Most likely in an expensive area like California your cost per square foot will really make this conversion worthwhile.Lastly, if you are going to take the gamble, make sure that in worst case scenario that you will at least recoup at least the same amount of money you put in, and that the house will sell faster. 

This "Buy High, Sell Higher" philosophy is risky in my opinion, but when inventory is low and capital plentiful, there are people out there ready to take the gamble. 

I'm fairly particular about who I work for.    

I risk vacancy for a month or two, but this area should allow me to find new tenants fairly quickly if I stay in the 1100-1200/month rangeAny feedback and insights you can provide with respect to rent increase limits or how to handle this scenario are very much appreciated.

Hi Dennis, in general the owner of the real estate that has been remodeled/retrofitted to meet certification standards for assisted living should be able to lease the property for 2-3X fair market rent of a comparable sized house.

I'm fairly new to the forum as well.

It is wonderful when you can send a guy to a job and know he will do good work on a timely basis and at a fair price.

Questions: I have a friend who wants to invest into my Fix and Flip business.If he lends me $20,000, what would be a very good interest rate to pay backthe loan??? 10%, 15%, 20%, 25%. The money he is lending me is onl...

Usually the HOA board is filled with current owners and so they generally try to be pretty fair with fees in order to keep owners happy.

I am looking for a good Property Manager that can maintain the property, and handle repairs (at a fair price) and get me a tenant.