HiI am sorry for asking this topic if it has been covered already.I have an asset that is a single family home in an upper scale neighborhood.The current tenants are a family of 4.In my lease agreement I have spelled out that the tenant is responsible for pulling weeds and raking up the leaves. 

Not sure if interesting, but my buddy just launched a tool to help find off market properties across the US based on tax delinquencies, probate, pre-foreclosures...etc.

California has Proposition 13 so our property taxes go up 2% a year from the original tax base (of when acquired) so long time investors from pre-2008 and going way back to 1960s to 1970s are doing well if charging market rate rent. 

From there there's typically a sliding scale pre-payment penalty.

Not sure if interesting, but my buddy just launched a tool to help find off market properties across the US based on tax delinquencies, probate, pre-foreclosures...etc.

If you think it's a bad deal, it's a bad deal no matter how many other offers exist. 

If you are looking for control of your property to maximize returns, you will need to manage it yourself and confirm with the existing HOA what you can and cannot do (and what services your guests can and cannot access if you manage it). 

It sounds like you have spoken with an architect but it's not really clear to me what you believe you can build or renovate by right based on the current zoning and existing structure.  

Their contribution to the LLC would be cash and yours could be the property and pre-construction work (and maybe some cash).

“Why questions” allow you to find out about issues you did not know existed, pain points that you can solve, and “black swan” desires that can net you amazing deals.