Personally I look to find something that will exceed my returns in the stock market (10% cash on cash).

However, because we don’t have much experience with this matter, are relatively new to being landlords, and come from a different culture, we wanted to understand if there are any particular considerations we should be aware of.I heard that it is illegal to ask about religion, national origin, and other personal information when we talk with tenants, even if we don’t have any bad intentions or discriminatory purposes.

The original lease shows 5 people, no ages (husband, wife, and either 3 kids (or 2 kids and possibly the roommate- in which case is fine as long as they don't now mention another person).6. 

Quote from @Joshua Lee: I've read about house hacking the BRRRR method, FHA loans, etc..

Question: We have two CALIF. condos (PGA West La Quinta & Lake Arrowhead), each earning $30K ann. as STR’s, w/3% loans, our son pays for one condo.

EVERY single person.  

Does anyone have recommendation on home equity loan lenders around the area to unlock the equity in the house. 

I am a loan officer and I have some great software and calculators for this stuff, so let’s set up a call sometime and we can discuss your options.

A good PM can turn a mediocre investment into a solid return; a bad PM can ruin a good investment.A good PM can also help you narrow in on the best neighborhoods, cross-check what your REALTOR tells you, and line you up with solid contractors.I'm biased, but I don't think there's a more important person to have on your team.

I've had to decline many loan requests because the income production doesn't cover the expenses and there's no way to make the math work.