I ask because I thought the loan had to be non-recourse - Hi Paula, I do have a DSCR lender who can assist with a limited recourse loan that will close in the name of a self-directed IRA.

Furthermore, now even lavishly furnished apartments, thanks to Newsom, will be limited to being secured only with a SINGLE month of security deposit in CA which CANNOT be applied to 'normal wear and tear' of furniture either, so if the tenant in a furnished apartment never pays their last month of rent but wears and tears down all the furnishings, it seems landlord would still have to give back the 'security' deposit on move-out, not being able to apply the 'security' deposit to last month of rent in arrears NOR the worn and torn furnishings?!

Lastly, if you are planning to expand your portfolio, these may limit you because of the low returns.

We have a $300 repair clause in our agreement which allows us to handle repairs below this limit without notifying the owner. 

To be honest, we don't know exactly what we're doing (we have some, but limited experience), other then sensing God is leading us into the REI arena, and now we have set sail on this new journey to learn and flip homes (or land). 

I take the "its a business" idea a little differently.

Trusted Tools and Resources: Are there any specialized tools or platforms or websites you've found useful for obtaining limited information about property owners?

If you are going to sell not making those repairs is going to limit your buyer pool. 

That way it will give people an idea of what you are seeing, and why you are replacing them.Good Luck!

It tells you if the property can cover its costs and gives you an idea of the lender's risk tolerance.