Assume everything that sits on the site will be stolen and pan ahead (fencing, security lights, toilets, a big mean dog on site) (down/ closing costs/ pay architect/ attorney to advise on contracts and note and the heirs are going to get involved FOR SURE. 

I'd always give a little comment, "well, that's a lot better income than working for the difference....or for fixing toilets"I suggest you get advice on setting up the technical side, drafting the note and making sure that you're not doing crazy stuff that is not down a more conventional road.

No tenants or toilets in paper securities, but no control either.  

What I was looking for and it sounds like the Hometech book will help me with is, if my guy gives me a list of materials this house needs, i.e. a toilet, sink and shower I could go home sit down and calculate how much that would be….

Do you budget things such as new light bulbs, faucets, toilet flappers and water filters in the fridge as capital expenditures?

I would love to know what everyone thinks of these.No-fault eviction rules will change for owner move-ins and remodels under Senate Bill 567, effective April 1, 2024.The California Tenant Protection Act of 2019 has been amended.Starting April 2024, more information is needed for a homeowner to end tenancy for moving or major remodel.To reclaim as owner-occupier, move in within 90 days of residents moving out.You must stay in the home for 12 months before it can be rented out again.The homeowner's close family must also follow this rule.Family members (spouse, parents, children, grandchildren), names, and relationships must be disclosed in the termination notice, following the same rules.Having occupied a rental unit on the property or a similar unit elsewhere does not qualify as grounds for lease termination.For remodels, owners of rental homes must provide more details of planned work, including copies of permits or signed contracts.If the work isn't completed, you must legally contact former tenants and offer the opportunity to move back in, so make sure to get a forwarding address when remodeling your rental home.Starting July 1, 2024, security deposits will be capped at one month's rent.Previous laws allowed 3 months' rent to be collected as a bond, in addition to the first month paid before moving in.With rising rents, move-in costs were becoming unaffordable for renters, especially for furnished properties.Moving forward, for a monthly rent of $2,500, the move-in cost will be capped at $5,000, including the security deposit and the first month's rent.This cap applies to both furnished and unfurnished homes.No need to return the difference if you already have a large security deposit of more than one month's rent.You can keep this amount even if it exceeds the new caps, until July 1, 2024.Homeowners will have increased protection against illegal occupancy with the implementation of Senate Bill 602, effective January 1, 2024.Trespassing and squatting pose genuine concerns to homeowners with empty properties.Starting in 2024, homeowners can notify the police about their vacant property, authorizing them to evict any trespasser who tries to live there or falsely claims to be a legal resident.This notice used to be valid for just 30 days.The amendment to SB 602 extends trespass letter validity to 12 months and allows electronic submission.A valid letter allows homeowners to avoid court eviction for illegal occupants.New laws to prevent credit history discrimination were introduced (Senate Bill 267) on January 1, 2024.Update your tenant screening process accordingly.If an applicant receives a government rental subsidy, you must reconsider how you evaluate their credit history and rental application.To prevent discrimination, changes to SB 267 prohibit landlords from relying on credit history unless the applicant has the opportunity to present alternative proof of their ability to pay their share of the rent.You must allow sufficient time for tenants to provide benefit statements, pay records, or bank statements.Consider this information instead of their credit history when deciding on lease agreement offers.

I want to just demo the unit I occupy(having a different plumbing issue & will need to open my bathroom ceiling) as well as the one the with issues and redo all the plumbing except for the toilet stack while the walls are down.Tenant is a good tenant, at times pays late w/late fee but always gives a heads up.

The rent multiplier method falsely makes properties with low rents appear to have lower maintenance costs than newer properties with higher rents.How to Estimate Maintenance Costs the Right WayThe method below is how maintenance cost has been estimated for over 100 years in the commercial world; this is nothing I dreamed up.Maintenance cost is a function of the following:Property conditionProperty ageClimateConstruction materialsTenant poolThe skill of the property manager in selecting good tenantsMaintenance costs have two components:Base maintenance - Base maintenance is all the little stuff like dripping faucets, running toilets, etc.

Stripping of homes and squatting is very common, especially if locals know that the property is vacant.

This is the simplest method, but it also means your tenants are more likely to abuse the utilities by leaving windows open with the heat or A/C running, leaving lights on, ignoring the toilet that constantly flushes on its own, etc.3.