Repairs: Add a pool ($65K).

Ideally LADWP will prioritize the infrastructure repairs and new service requests to these properties as getting power service in LA can be 6-24 months without project prioritization.

https://my.aarpfoundation.org/article/renter-eviction-assist...

If you buy real estate, you will spend hours and days and weeks and months of your life dealing with it… Home repairs, guests,… An investment really has to be pretty amazing to sacrifice all that time for itThe houses I own I bought many years ago at dirt cheap prices and dirt cheap mortgage rates.

This isn't always the case, but in general, I've found Section 8 homes tend to require more frequent minor repairs.

You can get 90% of the future equity, but you do have to have a GC do all of the work for you so you cannot DIY for future repairs. 

This being said, I don't believe we'll be able to meet the income requirements to qualify for a conventional.This leads me to believe hard money or private lender is more the only option to get my foot in the door, use my business to make repairs at very good rates, build some equity then refi once the balloon is due. 

If the age of your equipment is older, or it stops functioning, those repairs can also add up.

Quote from @Mary Jo Carruthers: @Albert Hepp Did you know that there are quite a few non profits and also the city of Austin in the austin texas area that provide down payment assistance for first time home buyers?

Adding the rehab money is standard if the property needs repairs.