I like umbrella policies for asset protection. 

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it.We have a 12 page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

The fourplex only exists because the zoning has been grandfathered in, on paper it is R2.This is my understanding of how SB 330 would affect my project:If I raze the building, I can't build anything less than four units ("An affected city or an affected county shall not approve a housing development project that will require the demolition of occupied or vacant protected units, unless all of the following apply: (A) (i) The project will replace all existing or demolished protected units.)Additionally, because the units exist under rent control (market rate), the rents of the new buildings in the future must also be rent controlled.

For example, the listing agent owes loyalty to the seller....if you pop up and want to buy the multi-family unit, who do you think the listing agent will "protect the interests of" most?  

This deal should have a title co/lawyer involved to make sure both parties are best protected and they will have one or a lead on one.  

On top of this, I always structure contracts on larger jobs to protect me.

Take some time, review it, make sure there is language that protects you if you want to back out of the contract early or specifies who pays for any unnecessary damages to your property during construction.Network with like-minded investors, ask for referrals!

This can also protect yourself by not overleveraging too much too quickly if worried about a looming correction. 

1031 is a great vehicle, make sure you read all you can on it, know the rules backwards and forwards - no one cares more about your finances than you do - so gather as much info as you can so that way you can protect yourself.  

@Caleb Brown So here's a rundown of the basics of how the VA home loan works...When you go to get a conventional mortgage, typically lenders want you to put 20% down which will enable you to avoid private mortgage insurance (PMI) which protects the lender in case you default.