I too live in Marin, and feel it is a solid long term market for apprecaition, and utilizing the power of principle reduction.When it comes to refinancing, figure out what the loan costs will be, then divide that buy the monthly savings with the new loan in order to determine how long you have to maintain that loan to break even. 

You can purchase this with a low-money-down FHA loan. 

I got a HELOC loan on the home for $130k.

On a New Construction Loan, we can provide 100% of Rehab, but use the Land Value towards the overall equity. 4.

When this person goes bankrupt in the next recession, this loan will be part of bankruptcy proceedings.

House-hacking can be a very useful way to get ahead but there is no equity in non-paying tenants. 

If any of the proceeds touch the sellers hand the IRS sees it as taking profit and you will have to pay taxes on that portion.Net proceeds - Is the net sale, minus any Equity in home being sold.I find a lot of investors who want to purchase less than their reinvestment requirements will do the calculation to see what their tax burden would be if they purchase less than they sell.

@Jerry Chilimidos I am not a CPA owever my understanding is any loans to your IRA can not be personally guaranteed.

@Chinku Chinku how is paying the loan balance down going to help you reach your goals?

Yes the product might be Real Estate but the LP is just loaning money.