Labor should run no more than about $1200, maybe $1500.A better quality video is really needed.

No more changing locks, only reprogramming new PINs which takes literal seconds and no tools.This is what I use.

No HOAs at all.When I say afford, no more than 30% of your take home pay-- to stretch it 35% given you are in San Diego.

@Jake Andronico I'd say no more than $600k($700k if we are talking 4 units).

The part that seems to continuously get people (unfortunately, and for lack of better words) is the "no evictions, no bankruptcy, and no more than 6 non-medical collections." 

Is it a hard-stop wall, no more, or just each additional over the 5 would incur some per-envelope fee? 

They may be money in the pocket, getting out of maintenance headaches, no more chasing rent, etc.

Then you have wiped the slate clean on the loss carryforwards, that $200k of released loss carryforwards offsets ordinary income first - so you will actually get a great result.Then, in 2025, when you have no more pass loss carryforwards, consider making that real estate professional status aggregation election, and utilizing cost segregation on properties you acquired in a prior year.Of course all of this - get some real tax help, I'm just another guy on the internet here, and there should be a deeper dive on the circumstances than what you can get through a forum posts to ensure this all actually works properly in your situation.

@Chris SnowI would say this is not a good flip I think your best case scenario is your property appraises for $315,000 which means you're all in should be no more than $220,000 less rehab of $90,000 brings you to a purchase price of 130,000.

All of this comes at no additional cost, meaning the mentorship becomes more and more valuable with no more investment into it (other than your time).