First things first, when assessing property managers, it is crucial to prioritize their ability to collect rent and manage delinquencies.

The property has a massive 900+ sq ft attic with very tall ceilings that would make a perfect 3rd unit potentially grossing another $1000 per month. 

Do you have any other tips on "the live" in flip potential in LA? 

Basically, the further you get away from the city the more potential for cashflow, but you're also dealing with a different tenant base that may be tougher to manage.

The reason for this is the university will likely want to expand & your street could have a high potential of being bought out by the university.

@Guillermo PerezPositives:- Equity Built: You now have $70K in equity, which is a solid result for your first deal.Cash Flow Potential: If the property rents well and covers your debt service while providing some cash flow, that’s a win.- Experience: You’ve successfully navigated a purchase, rehab, and refinance, which are the core components of BRRRR.Considerations: - Budget Overrun: Being $27K over budget highlights the importance of tighter cost estimates and contingencies.

Oftentimes my initial consultation call with a potential client runs 1 hr and that still doesn't give me enough time to cover everything about the STR market on O'ahu.  1.  

There are a few different ways to make good money with rentals but cash flow is typically the smallest of the income streams for rental properties.Now, an exception is if you scale a medium/large portfolio of rental properties that have zero debt, then you have the potential to cash flow enough to put groceries on the table.When you're getting started, you have to get cash flow in place via high cash flow / low CapEx business models.

Remember to account for potential surprises.

Each individual needs to assess their own ability to handle costs over that time frame when cash flow may dry up.