Your friend should send a demand letter for the return of his security deposit, or whatever portion of it he feels should be returned.

Annual rentals are less so, and there's demand for them as well.

Did you investigate what happened to rental prices and the demand for rental properties following the crash in 2008 (in the location you are investing).In many places, values dropped 40-50%. 

However, investing in Southern California doesn't make sense to me and it is mostly appreciation plays.

If you're looking at Windsor you're probably not too concerned about growth anyways as it's more of a cashflow play.

However,  we have a strong demand for rentals and housing in general.If you are saying you can get $1,382 Monthly Rental Income ($681 per unit) then that’s really good.  

Overall demand for your unit is important too. 

The type of agreement/contract the seller has with the agent obviously plays a role but the clause would be clearly spelled out in the agreement. 

It does not require us to provide a wireless connection, although we choose to provide equipment that features a Wi-Fi antenna.With all that said, playing "gotcha" on technicalities is not how we run our business.

The neighborhood is extremely high in rent demand with more than 70% renting.