Challenges?

My wife and I faced the same keep as a rental/sell dilemma, and we decided that the best of both worlds would be keeping our home as a rental, while retaining access to equity.

We are aware it can be difficult to manage out of state properties, especially with high turnaround of renters and also the HOA fees.. any advice or challenges you can recommend to avoid is greatly appreciated

Now the first 2 sections will explain the restrictions that you will face...hopefully those will help some with the understanding of it.  

Challenges?

I have a garage, however, it faces the wrong direction; it's an older house, so I think at one time there was a driveway that ran along the side of the house to the garage.

Challenges?

The challenge I'm having now is finding something that I can buy for a 'fair' price, rent-out and still turn a profit.

You have to play by the rules or face some serious consequences down the road.The solution is to sell your property in California while markets are at a peak (that's today, if you haven't noticed) and invest your money in a different market that has reasonable laws and fair courts.

@Mary Jay It won't prevent you from buying in your personal name, but it will make it more challenging.