I'm not an attorney so please consult one in your state to make your decisions.You could propose they master lease the property as a trial period BEFORE you agree to purchase terms which would transfer title. 

Having a separate account to hold security deposits is a good idea.Having another account for business operations is also a good idea.There is zero risk in opening a bank account and it doesn't take that long so you can do it now or do it later.Good luck

He can take a short term bridge up to 75% LTV, payoff the existing loan plus get 22k to fix the foundation up, then sell it at full value.

So, here at the 6 month check in, here are the things I've been doing since January 2024: *Anchored everything to my WHY, including the motivations and long-term strategy *Joined a local REI group hosted by my church*Researched tax lien investing in Harford County, MD and decided to not play in that space this year*Read a few REI books (Rich Dad Poor Dad, One Rental At A Time, Building Wealth One House at a Time, Wealth Without Cash, Building Real Estate Wealth in a Changing Market)*Subscribed to a bunch of good YouTube channels (BP, ORAAT, Ken McElroy, Coach Carson...)

Hey Emily, I think it is worth it if it is expected to cash flow some in the long term.

I understand that the law in CA limiting landlords to a max of one month's deposit went into effect on July 1.

or as long as you have any percentage to be included for the "Funding Fee" to carry?

The bad experiences are painful but pretty much all real estate investors that make it over the long haul go through them all so good to knock them out early!

I feel in this market it is difficult to get outsized returns (S&P seems very hot and might be hard to sustain 7%+ returns in long term.. but even if so, I’m risk adverse so would probably keep it my HYSA)I did run the numbers if I were to prepay $60,000 now and it appears the IRRs are lower (because of the higher cost basis).

And it's good that you can always return to long-term or mid-term rentals if need be.