It is always valuable to be able to walk into a property an analyze cost to repair, it is a huge factor in determining the feasability.

2- if there is a “problem” Will the “solution” discussed solve it in a cost effective, consumer accepted way?

He owns an asset that is worth (low-end) $300k that generates 2300/month (after all costs).

The instruments needed for the transaction will be state specific which means you should have someone from California chime in with resources who can provide low cost documents (as these will be boiler plate).

Most DSCR programs will want you to have owned the property for more than 6 months to allow you to use appraised value instead of cost.

Use tools like the VA loan for house hacking and your Basic Allowance for Housing (BAH) to cover living costs while building equity.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

I think its a scary feeling, like the cost of entry is too high.

I recently came across a property near the international airport that seems to have good cash flow potential.

Lowest cost way to get a deal done with your own money would be to house hack with a 3-5% down conventional loan.