Many people here are looking for cashflow properties, and that's a rare thing in CA. 

I rarely read real estate books any more.

A JV agreement is rarely need when everyone is happy and on the same page.

You need a bit more spread anyway between purchase price and ARV - combined usually 80 to 100k, roughly half of it is rehab, half is equity.

In San Francisco, a "traditional" suburban driveways are rare and are often times confused with the sidewalk portion in front of the building. 

We are in the middle of two rare and term refis, which are progressing just fine, but put off our interest in cash out for the moment.  

We have only rarely bought with inherited tenants, and if they were inherited, the only thing that we held out of their deposit was if they had unpaid rent, or if we absolutely for sure KNEW that they had caused the damage. 

The greater outcome will come in the future as other properties are acquired in the neighborhood, but in the meantime we’re going to capture a combined $500 of cash flow every month Lessons learned?

If the numbers don’t work with that combination then change the parties or terms involved until they do.

They countered with a combination of both offers and I drew up a P&S.