To me it makes as little sense as leasing a car, but I do concede naivety to land deals and lease laws in Texas.

If you want out, just ask the seller to concede to every last repair listed, and if they refuse, then back out.  

We want to do multi-family, but a little nervous to have that be our first deal and refuse to concede to the notion that they are "no flip opportunities in OC".

The company can survive without an individual C-level - production, marketing, billing and receivables roll merrily on - because THAT is the company's bread and butter, not anything individual C-levels do - they do not "out-value" the hundreds of hourly people their compensation represents.If you can show me where I made a blanket statement, I will gladly concede that point.

Should I conceder paying premium for non-rent-controlled areas like Burbank?

Again this is also going to be your primary home so maybe you are willing to concede a bit of your potential returns in exchange for the "I just love it though" factor but from a strictly investment perspective I would look for something more along the lines of a boring brick flat roofed building.And lastly:  welcome to BP!!  

If this happens, you should look at a new build and concede on one of the other areas I'll talk about later.From the seller's point of reference, they have already conceded close to $3,000 and you are about to ask them to reroof the house and fix everything else too.

You concede too much too soon.

No one wants to concede more than the other, so if the first person drops their asking price by $1500, the second will likely increase their offer by $1500.

Or, there are lenders who will concede to a STR 20% down payment if the underwriting looks good and you have some reserves to spare.