LA cash flow is certainly deep red. 

@David YandelOne of the beauties of real estate is you don't need 100% cash.

It will also not raise any red flags to the underwriters that you might end up doing a bunch of work to the subject property which can be seen as added risk for them. 3.

Even though this would also be an equally small loan, banks can't turn those down if your credit is otherwise good because that is considered red-lining which is illegal for owner-occupied loans.

Hyper focus on one area and get to know as many people there.The reality of "off market" deals are not as beautiful as they sound.

Any red flags or important clauses to include in our contract?

There is a beautiful style fan that is black and has gorgeous wooden polished fins that would look stunning there!  

Numbers probably pencil beautifully, but there's a reason why. 5th ward was horrible back in the day, got better a bit, but now it's trending back to some of the worst crime. 5th ward is also a cancer cluster, not sure if you are aware of that.

Look more into a long term hold strategy, if I can get an interest rate where I can break even or even go in the Red a little where the house is being paid for mostly by the tenant then I will look towards the appreciation down the road. 

I'm married to a beautiful girl named Tammy and we have 4 grown kids and 6 grandkids.