There are also broken blinds and a hole in the wall along with what I would consider a few areas of excessive wear. 

Note in some other large cities in CA, there are local rent control regulations more excessive than the state regulation (more restrictive than AB1482).AB1482 does not apply to SFR including SFH and condos.Note not only are the tenants entitled to a month of free rent at lease termination, but there are few legal reasons for lease termination (typically to move in close family or heavy remodel). 

In the case of note ownership, what type of event, if any, could create a liability in excess of the value of the note?

Hi everyone my name is Nate, I am in the beginning stages of my RE investing.

Then tell me what stage you are stuck in.3 sages:Finding leadssignig contractsselling contractsTell me what you are doing to "check mark" off each stage.Once you answer these honestly, I will tell you exactly what you need to change.Then to give you SOME value in my response I will let you in on a little secret.I have yet to make a wholesale deal from a desperate seller.

I do think that one thing that drives company growth though is excess resources given to the right people.

Understand other expenses house flippers will incur (commissions, closing costs, staging, holding costs)4.

You get the experience of buying a property, staging a property, screening tenants, managing a property, and being a landlord (the lessons you'll learn here will be invaluable).

I’m not asking if I should convert property I currently own to STR, the answer is probably not because as I have learned from this forum STR only makes sense in vacation destinations where it’s accepted and those cities where restrictive legislation or ordinance hasn’t been enacted, and competition doesn’t degrade rates to the point of no excess returns.So, if you don’t mind sharing, what’s your minimum and your target ROI for an STR?

I had been so sure that this was excessive, but nobody could help to get them out.