Property appraised for 245k; however, it was classified as a c5 which prevented most lenders from issuing conventional financing.I contested the appraisal and the appraiser held their ground, but their supervisor told me that if I slapped a coat of paint on the cabinets (these needed to be replaced due to wood rot) it would be an easy c4.I paid $520 for a new appraisal, contacted all my family and friends, deep cleaned the home and put a fresh coat of paint on the rotted cabinets and over the doors.

Theodore - I don't recognize the color, but I would send the photo to a couple of "big box" stores and see what they suggest.

As to the suitcase, this is where I store client files.

So, they bought an OOS property (usually a freshly rehabbed A-grade house in a C or D area) because the house looked awesome in pictures, and the cashflow looked good on paper.

Then it did take some time to build the credit as you would open up some credit lines through places like office stores.  

The RE used as collateral are either SFH, multi-fam, or small commercial (like a small retail store), and all in Calif. 

Then, look at any updates that might bring in MORE or HIGHER rents, such as kitchen, baths, fresh paint, clean floors (carpet or hard surfaces), ceiling fans, window AC units, etc.

A store?

Someone who's grown up in San Francisco who works in a liquor store should not have to be displaced because of tech and a lack of housing.

What I find here is that if you are starting with a fresh mortgage at today's rates it is difficult to cash flow.