The current rate is extremely low.

Given that the property was worth $390K in its current condition, I saw an opportunity to make the numbers work while keeping my upfront costs low.Instead of increasing my cash offer, I negotiated a $25K down payment with the seller carrying the balance for two years through owner financing.

I own a MTR management company in Los Angeles, currently managing 27 properties.

I guess my question is this: is the very low cash flow (due to my low down-payment and high interest) going to improve?

I currently live on the north side so I am trying to see what areas would make for good buy and hold investments.

Quote from @Matthew Orr: I am currently under contract with a wholesale deal that was to close on Monday.

I currently have this property under contract, expected to close within 3 weeks.

Talk this over with a lawyer because under current state law, you will not be able to evict due to the cold.

These all require applicants to submit an acceptable Letter of Explanation addressing each specific issue and occurrence.Rental HistoryBecause a current landlord may say anything to get rid of a bad tenant out of desperation, we also require information for the previous landlord of all applicants…Analyze IncomeMany landlords require a month of paystubs from applicants and just use these to calculate a monthly qualifying income…Employment StabilityUnless an applicant has exceptional credit, we strive to determine their stability of employment…AssetsWe are one of the few management companies that requires a bank statement as part of our application process…Letter Of ExplanationAny time there are credit issues or we discover an inconsistency, we require a written letter of explanation (LOX)…UnderwritingTraditionally, landlords have only looked at the income of applicants…ApprovalOnce an applicant is approved, we require a nonrefundable Holding Fee to make sure they are serious…

I don't think I would be interested in renting a boat or RV....I would have it too long for that to make sense.Though I own several properties, I currently have no primary residence...