The management company has replied that they don't coordinate with neighbors and just want me to cover the cost of all the repairs. 

But it’s not for everyone.Feel free to reach out if you want some links to resources and/or more info.

Feel free to connect with me on here or through my LinkedIn.

Feel free to reach out if you have any other questions or would like to discuss!

Plenty of calculators out there for free and forums/groups on social media. 

You need a reserve to handle unexpected costs, particularly during the first 1-2 years of ownership and learning how to manage the property. 

Let's say at 6% over 30Yrs will be about $960 per month(Principle/Interest) with the remaining  interest only portion $40K costing roughly $200 per month. $1500- $960 + $200 IS $340Cash in your pocket after everything roughly $1500-$1160-$340 which is not bad for a 100% financed deal(INFINITE RETURNS)Now, If you ran this analysis on a 1% deal as @Nicholas L. mentioned you will undoubtably end up in the red each month.All the best!!!

@Jordan BrownSince Orange County and Santa Barbara have high housing costs, using an FHA loan for a house hack could be a smart move, allowing you to put less money down while securing a property.

the additional tenants also help obviously in the vacancy costs.

Alternative strategies include tax-loss harvesting to offset stock gains, using cost segregation and bonus depreciation for real estate deductions, or deferring real estate capital gains through a 1031 exchange.