I find it hard to believe that it has not experienced a loss, but I guess it depends on how one defines loss.

Hi Scott,How do you define "good"?

I'd recommend analyzing 50 private placement offerings to gain knowledge and define your criteria for investing in them.Properly investing in syndications can be mostly passive but it takes upfront work and education to get there. 

Local credit unions or banks could provide funding that is more suited to your requirements and have a greater grasp of the community.Understand the local construction codes, zoning laws, and any other rules that can affect your ability to make improvements or rent out the property.Make sure your escape plan is well-defined.

This will make it easier for you to comprehend how much each project component will cost.Budgets should always contain a contingency to cover unforeseen problems or extra work that may come up during renovations.

Definately get a 240VAC hot tub.

@Noa Zell, here's the actual language defining MR1 zoning:https://codelibrary.amlegal.com/codes/los_angeles/latest/lap...I'd study this and see if any allowable use would generate more rental income than auto repair shops.

@Alex ClarkYou have to define what "doable" means for YOU. 

The first involves hiring an engineer or specialist, who meticulously categorizes components to maximize segregation and depreciation acceleration.

Networking and education are key components of success in any field, and it's great that you're prioritizing both.