@Mike Palmer where are you getting your soft cost numbers from(vacancy,repairs, and capex)?

Rents are soft, prices are accelerating on rowhouses quickly, condos are flat. 

New CA State laws in 2020 allowed for a garage conversion or additional unit to be built on your lot up to 1/2 soft of current home or up to 1000sqft - due to housing demand.In my area, Santa Barbara County; these ADUS are popping up like crazy. 

@Ray Evans thank you for the advice I’ll definetly look into the loans you mentioned and also it’s tough for me to talk about it because people brush me off I’m too young, by hat doesn’t stop me from trying and ima still continue to move forward and try to find deals.

On October 6th, 2020 after a long time not working and battling health issues I decided to brush myself off and get back in the game.

It’s long been a soft goal of ours to someday own this building and restore this landmark as its been vacant for decades, but as previously mentioned we’re very green and are currently only just building out the SMF portion of our proprietary holdings.

There are also "soft" second loans which are deferred until/unless you sell the house.

Always be kind but not soft be firm. 

Condos are a little soft right now, so its easier to buy one than a rowhouse which are on fire.

Its sort of like the soft version of a single family BRRRR.