@Jonathan Klemm is right, seasoned investors are buying as part of a portfolio, have a firm grasp on the associated financing/rehab/management costs, and as a result, are able to accept a lower rate of return than first time or independent investors. 

Hey Adam,I would recommend you look into the following:* Joining your local Real Estate Investors Association (REIA).

I do but I do recommend checking for asking friends, associates, colleagues, family members, for referrals to someone local to your area. 

That is assuming that the property is profitable even after you pay both of those liens + the expenses associated with it. 

And on a purchase price of 50K all the fees associated are going to add up - closing costs on the buy, holding costs, financing costs, and then usually robust fees on the refi.

Join the California Apartment Association for forms, education, and more: https://caanet.org/You can also purchase "Every Landlord's Legal Guide - California Edition" by NOLO.

Search for the CA apartment association or something to that extent and you'll likely find a good, attorney approved, state form.Other lease agreements are legal but aren't always tested.  

There is no item that is an automatic "no", there is only items that have an associated price-tag to them for making corrections, or to mitigate risk factors, or simply for mental damage of dealing with it. 

Yes, you can sue them for breach of contract and potentially your losses associated with this breach.

PROS+ Potential for much higher gross and net revenue + Removes the large swings in vacancy commonly associated with SFRs.