I have access to a rather large sum of money in my 401(k), I have a conventional mortgage available to me up to $150k (at least that is what my broker told me on a 5 minute phone call), and I have contacted a hard money lender for more info (still waiting to hear back).  

I only send emails, letters or call them.

You can then reach out to these people (through mail, call, or in person), and offer this to them as a solution to foreclosure, or getting rid of the extra house they no longer live in or want.

Feel free to send me a PM or give me a call anytime. 

What's is called when you buy a house and put it on rent?

You should really put a call into the City of LA about the ability to evict, they are not hard to get on the phone.

However, you do have something called sandwich lease option where you could do that. 

The area turns the water off in the winter which is why they call it seasonal.

I have the contact you should call in the area to help find you one if you are serious.

His dilemma is finding more HML or private lenders (call them what you wish).