Learn from my mistake by listening to this podcast interview:http://www.biggerpockets.com/renewsblog/2014/04/10/bp-podcast-065-creative-investing-wendell-de-guzman/I lost money on a 36-unit apartment building which I thought was a no-lose proposition because I bought it dirt cheap.

Kyle not exactly a winning proposition .Personally the deal would be too slim for me to do, remember the whole idea is to build wealth bybuying income producing real estate.

I would say that you should present this as a normal rental property, because as a crash pad (again, it's illegal in many municipalities) there's the risk of getting shut down, which is too risky a proposition for a bank.

With California Proposition 13 the property isn't reassessed like in other states--it's locked in until we resell or do major improvements to the property.  

You can add value to your "management" proposition by offering upkeep, lawn maintenance, etc. 

That said, we can generalize some about the best option based on a management proposition (which can relate to profits, longevity as a landlord, etc).So in general the type of renter and rental in the 20K property range is going to entail some particular challenges.

After analyzing the situation and realizing potential REI opportunities at hand, I made her a business proposition.

Expensive proposition to completely rewire a house.  

I’ve stumbled across a few (Growth Equity Group for instance), and am still digging into the value proposition.

I'll bet this guy as been propositioned by multiple agents and has a pretty good idea of what the property is worth.