It all cash flows like a gold mine until the roof needs to be replaced, the main line goes, or you get your first turnover bill and need to upgrade a kitchen. 

Small upgrades or re-leasing to market rents could boost your cash flow and provide additional funds for your San Diego purchase.If you'd like, I can connect you with a lender or help you explore potential properties in your preferred areas to see what’s realistic within your budget.

My plan is to do small value add upgrades while I am living in it.  

It wasn’t how I wanted to kick things off, but I worked with a contractor to get the bathroom fixed and functional.Once that was behind me, I focused on improving the building and maximizing income:I installed a shared washer and dryer for the tenants, a major upgrade that added convenience and increased the property’s value.I rented out the two garage parking spaces, bringing in consistent revenue.I also raised rents for the second- and third-floor tenants I inherited to be just below market-rate.

I then hired contractors for plumbing, electrical, roofing, and HVAC upgrades.

Seems like you may need to upgrade the rigs or something kind of fun. 

I heard plenty of podcasts to give the appraiser a folder showing upgrades to the property, comps in the area, etc.

I then hired contractors for plumbing, electrical, roofing, and HVAC upgrades.

After buying these new rentals, he will still have about $90k in cash to spend on upgrades and furnishings.

@Roberta Allen - i purchased with the upgrades.