Before buying, look into city ordinances closely; some areas have minimum night stays or strict permit limits that can make or break the deal.Here’s how I’d approach it if you’re serious:Start with data, not vibes.

Action step: pick one submarket, run five deals a week through a strict buy box, and only pursue what survives your worst‑case sheet.

Great question, and you are definitely not alone feeling overwhelmed by California’s rules.From a tax perspective, CA-FTB is strict.

Or is is strictly an investment property?

Be strict with enforcing lease provisions. 

Quick rule of thumb: hard money is institutional, faster but rigid, with points, draws, appraisals, and strict timelines; private money is relationship-based, more flexible on docs, payments, and extensions, often quicker when the deal and trust are strong .

We’ve already tightened up our underwriting to focus strictly on in‑place financials and verified numbers, and we’re presenting offers only where the math justifies it.

BRRRR can work on Detroit Land Bank/Land Trust houses, but only if you treat them like heavy rehabs with strict compliance: read every program stipulation, confirm deed restrictions and rehab timelines, and underwrite all‑in cost with big‑ticket items first (roof, sewer, foundation, electrical, HVAC) plus contingencies and holding time; many lenders won’t finance until work is complete, so plan cash, private, or bridge funds and expect permit oversight and inspections.

Recommend demanding the owner follow California laws regarding handling of security deposit charges & refund or threaten the owner with lawsuit - many states allow double or triple damages against landlords/PMCs that don't properly follow the laws.

I use a PM as I don’t have time to keep up on ever changing laws.