Today, CLT isn't as pricey as PHX.1995 AND NEWER SFHs in good areas, are the only way to go-- still have some incredible bank foreclosure deals here.You can still get a 4 br 2.5 ba. 2 car garage under $200k and rents are at an all time high.The prop will cash flow from day 1AND appreciate nicely.

Long-term I'd hope to grow a buy-and-hold portfolio, but I'm very focused on this first purchase for right now.Since I work downtown, don't own a car (and don't want to), and spend most of my time in Central LA, I'm looking really closely at areas around downtown: lower-cost areas with decently affordable 2-4 unit buildings (in the $400,000 to $800,000 range) like Pico-Union, areas around USC, and even up around Hollywood/Koreatown when the rare good deal shows up there.I've been looking around on Redfin a bunch, but have seen little to nothing that satisfies Josh and Brandon's "Two Percent Rule" (or even 1% rule).

Check out the cars in the parking lot.

Mortgage is 219k@ 4% interest, we pay 120$ in PMI within the 2300.Our student and car loans are around 100k@ an average of 5% interest, with a monthly payment of 1400. 

Your best bet is to go there on an evening and see how the block looks then. in a way you are fortunate because these are the summer months and you can get a good feel of what goes on around that house. if you see a lot of hanging around on porches or a house with a lot of traffic (foot and car), proceed with caution.  

The garage has definitely never seen a car since I've owned it, and it never will! 

this is just an idea, I was also considering the luxury car rental business.

This duplex has two small units and a large spacious lot in the back along with a three car garage.

Garage conversions can be tricky on the valuation as some appraisers deduct value for not having a two car garage, so the gained value is often not as much.

So, if you used a CAR contract with the transaction, you would probably have recourse but I would call the Broker of the realtor's office, if the agent won't help.