Then I eventually pulled the trigger and found another home and sold my first property What made you interested in investing in this type of deal?

My wife and I would be responsible for all maintenance, keeping rent level constant, and eventually getting the down payment paid back.

Quote from @Rob Bergeron: Great insights!

Will a democratic administration eventually try to pass a national rent control?

Regardless, CA needs to clean up its act or else tech (and film) will eventually get fed up.

My realtor said that initially he thought the ARV for my building would only increase by about $60K but that if I held over the long term eventually I would get the value.

Hey Rob - Thanks for the response and looking forward in working together.

Our typical strategy is to purchase and renovate a property with cash (or Lines of Credit), stabilize it with good renters, then eventually refinance on a 30 year conventional for a more secure, long term investment hold.

I plan to eventually transfer it into an llc I created once it is rented, and refinanced.

If you start with some buy and holds, test out some GC's on maintenance / small work then you can start building a relationship with someone and eventually get full blown BRRRR's / Flips going.