Hello All,I have purchased my first two rental properties in my name, but have since decided to operate my business as an LLC going forward for liability reasons. Therefore, future properties will be purchased under t...

Joey,I might have the solution to your financing issue.  

Whether we inherit tenants from another property management company or owner, there are almost always issues - that's why the owner either hires us or wants to sell the property because bad tenants have turned their investment into a money pit.

Again this returns only 6%  One issue for me is with that cash tied up it can't be used on future opportunities, eg a flip.  

So if these tenants were evicted by the Ellis Act, I think there are some issues we need to look into.2) Does anyone have any experience or insight with renting on Airbnb after evicting a RSO property via the Ellis Act?

The current landlord didn't do much for repairs, so the tenant has been responsible, in other words he's aware of any issues.

@Ryan Canfield even though that property that you looked at seemed like it had a lot of issues at least it had a floorpan.

The housing authority insist the HUD limits prevent them from paying my requested rent or even increasing it at all, while the other authority had no issue entering into a contract for the requested amount.

Next time, we'll be able to mobilize faster, and we are working to be able to contract this type of thing ourselves.

Here in Calif, 16-units REQUIRE BY LAW a resident manager - - check your State requirements.You could operate 15 units as rentals and use the last as office / utility space and avoid the manager issue, but at 75 minute drive, I would think you would want a PM.