Does anyone here have a property there and if so how much are you making anually before expenses?

Good afternoon investors familyI need some advice in regards to a house i am about to close the sell.

You don't need to say how much but did you get any info on IRS flags for something like this?

However, your son and daughter-in-law would need to be tenants of the property rather than the owners.

It doesn't sound so much like a scam to me as marketing gimmick to get business.

If the prior owner made a lease with the tenants and you purchased the property (and the lease), I doubt you'll have much luck evicting them just because you don't like the rent amount or lease term. 

You only need 3% down for single family or 5% down for 2-4 unit multifamily.

Without knowing too much about the specific market (although it does appear Monterey and Santa Cruz are holding pretty strong) it may be worthwhile to consider selling if values are holding. 

While they may not care much about the neighborhood aesthetics, highlighting the potential for legal issues or fines due to the environmental hazards might get their attention.

I may need to flip a few to build the cash.