It’s a newly renovated 3-bedroom, 2-bathroom home, just one block from the ski slopes and four blocks from downtown.The current owner has been renting it out for $30,000 per month during the peak winter and summer seasons.

One I know is based in LA as that's a huge market of course..

I've separated out electricity but not water (never heard of sewer being separated) and I've always had separate gas meters on my properties but have separated the heating system on one.

The property, though is not beach front, nor does it has ocean view, is just a short drive from some of the best beaches in the west, which are great for surfing, snorkeling, SCUBA diving.In the 1.21 acres there is a main single family home (4 br) which was divided in two sections one of which is being rented.

In other words, not resold to the government so the bank had more flexibility on the condition.I look at the original commitment letter and it states "xxx amount will be advanced at closing for the purchase of an investment property, and the remaining balance of the loan to be placed into an escrow account to be disbursed as improvements are made".No points, and only one closing, so I don't have to deal with a short term HML that I have to refinance in under a year.Hope that helps!

If I sell one house per year, it will pay for itself.

One note on this @Jenny Yu. 

If you are a control person, this can be a challenge but I have learned to let go over day to day issues that come up that I would do differently.Handypersons are a tough one.

We have one rental property in Frederick MD and are investing out of state.

One with low cash, one with some owner financing and a little less price.