If you are lucky, and/or control your expenses as much as possible, you reduce that 50% in reality and greatly benefit!

If you want me to take more risk, then I get a lower sales price on the option.It has taken me a long time to understand all the benefits to the home owner, but now I know and they love the ML as well.

Here is my understanding, although I am not an attorney.You only benefit from the homestead exemption if you currently own the house when you file.

So even if not practically useful, I get the degree/safety net with minimal fuss and am able to get serious with commercial investment that much faster.Accounting has the obvious benefit of me being able to handle my own books.

You may find you end up giving that money you tried to save to the buyer anyway.I could go on and on about the benefits of a good real estate agent, especially in the current market.

This would actually have been to their benefit as they would have known sooner rather than later that it was back on the HOA's liability.

Learn from it and benefit in the future.

I'm another Bay Area guy... drop a line sometime, I'd be happy to be part of your network and keep my eyes open for some opportunities that might benefit you... take care and enjoy the great weather!

Maybe I am missing something, but what is the benefit to this arrangement?

You're essentially wanting an investor who owns and manages the place, and that investor would want a good deal.