Deal Analysis Oakland Duplex

[Luke Mccandless]

I'm looking into a duplex in Oakland that will need repairs and doing a 203k loan (Market has slowed so this is possible). The payment will be $4,664 PITI and MI The lower unit will rent for $3100 and I will live in the top unit. I plan on moving out in one year and renting my unit for $2300 I realize the cashflow is not great but the property is in good area and I hope to be able to refinance the loan to lower the payment as soon as possible. I make an ok income and hope to have raises going forward. Other things to consider are how anti landlord Oakland is and with prop 10 in the works...I am not sure how much longer living in the Bay Area makes sense.