The bottom line is by using this approach it brings the value of the building up tremendously.  

go onto capitalone.com and go to the middle bottom See If You'rePre-Qualifiedthis will get you started on your way to getting credit.  

Go to the realtor (even if you have a trusted realtor): and ask the listing agent questions: (i'm sure he wants to sell it... as he has not made any money on it for 1 year and has been answering questions from people like you all this time). so go to him and ask him: what is the seller's bottom line? 

As I mentioned, it's basically a shell and needs completion from top to bottom..

I understood mine was a small project and figured bigger more lucrative projects were bumping me to the bottom of the pile.Around April I started running out of patience.

We have one that we are putting back on the market tomorrow with owner financing that would be perfect for an owner occupied "house hack" where they could get a type 1 short term rental permit.  3 units, 4/2 on top, 2 one bedrooms on the bottom with pool.  

Is the $1600/month in rent she's currently paying near the top, bottom, or middle of what market rent it?

However, I would suspect San Diego is in the bottom 10% on day 1 cash flow and likely bottom 5% day 1 cash flow if not including locations with rent control (San Diego does not have rent control). 

And that "more to the story" is where the rubber, inevitably, meets the road...

In today's market, 20% could eat most of your profit, so getting your cost of money down will make a big difference to your bottom line.