I’m planning to update and repaint, maybe increase rent on one side to 3000-3100 while I live in another unit and replenish to legalize garage space.Monthly payment: $7033. landlord pays for water, everything else is separate.It just feels very tight in the beginning before getting ADU gets legalized. 

If you plan to hire that out then it falls on the PM company.

I would plan to sell this property when the tenant is no longer ready to renew.

If we were going to buy a property and put it “under contract”, and a better deal came along, rather than pass on one deal we might present it to a fellow investor and collect a fee from the investor in the process.  

My plan is to have a nest egg of money for each property in case things go wrong- long period of vacancy, roof/water heater/furnace replacement.

Are there specific regulations or processes I need to be aware of to ensure compliance with local laws?

I was planning on assigning this to an end buyer that I have lined up.

Right now I am busy with a transaction, but plan on moving forward in reviewing them in the future. good luck

We're planning to upgrade a large kitchen (repainting cabinets, new hardware, and new countertops).

I am happy to discuss the process and advantages to using hard money - just holler.Andy