Once you find someone who wants the deal, you agree to sell the llc to them.Again, check with your local laws and regulations and you'll want to have your attorney weigh in.

I almost never fall on the side of government regulation for anything, but even I have to admit that I understand the reasoning behind these laws on the books that are intended to prevent the pretenders from playing in this end of the pool.It is a lot easier to work with houses in physical distress, than it is homeowners that are in financial distress.

To @Lucas Carl's point, also run the numbers to see if you could still make money/carry the property if regulations change and you had to go with a traditional rental.

Mobile Home Parks are in limited supply and the barriers to entry as far as costs, regulations and government restrictions make developing new parks unfeasible in most areas.

@Allan Smith I disagree with the basic premise of cash for keys but here's your answer:The security deposit is regulated by state law.

My belief is that the legislature believed that a lease term OVER 1 year constitutes price stability for the consumer/renter, and is therefore not regulated by PC 396.

I believe you meant to write this as a hypothetical situation for future knowledge.2) something no one has yet pointed out - Fair housing regulations ONLY protect official and legal.

https://sonomacounty.ca.gov/PRMD/Regulations/Vacation-and-Hosted-Rentals/Vacation-Rental-Permit/

that's how these play out.the other HUGE red flag is when they say you need to buy insurance to guarantee the payments.. that's why they can do the loans.Well news flash there is NO mortgage insurance for fix and flip loans.. there is only PMI on federally regulated loans  .. period.I had one guy one of my investors who I was humoring .. so I played along.. lender was in the middle east you could tell total scam but then we had to buy this mortgage performance insurance from and insurance company in Thailand  YA right LOL.. 

the 1031 exchange is a specific process with regulations and requirements.