I run only off-market & auction comps as we're going to be using cash to buy via the auction or direct from the owner. 

@Jaclyn Musselman, you may want to find properties whose owners are willing to do a seller finance deal.

Hi, I currently have a relationship with a property management company that has implemented a new accounting practice, that basically puts previous tenants accounts recievables to the property management company directly on the books of the property owners in the form of an expense.

She cannot do an owner finance, because she needs to free up her debt load to allow the loan on the new house to be approved.

If it is being reported on page 1 of Schedule E, they may question it since he isn't an owner of the property.

My CA friend is a professional engineer in commercial structural engineering (partner/owner of his firm) and is looking to seriously invest outside of CA...He personally owns a dozen units around SoCal, but is talking about throwing around big $$  on 40+ units anywhere but SoCal.

Previous owners started to convert garage to livable place and one add on room.

The confusing thing I found was under the property assessor page it shows the owner/ETUX, and a C/O which is someone else. 

Shray a few things to consider:With conventional lending, there are add-ons (points/rate) for non-owner occupied and additional units.  

The family member who wants to do the work wants to be paid for their time but also wants to be part owner but can't invest $.