I imagine I could go the route of procuring a conventional loan for the property and a hard/reno loan for the renovations.

I imagine LA is just as bad as San Diego, market wise. 

(We had a slab foundation but I would imagine pier and beam with wood subfloors and floors would dry just like the framing will).

I think we will go with gas since we will have to live there for at least a year or so, and the tenant we are attracting is a long term, large family or group as this is a 4bed/1.5bath where I imagine they would cook more.

I have been doing this for a little bit and I get some good prices on stuff that you can't even imagine what I am getting for. 

Yep ... the fact that it is very niche, requires specific knowledge that not everyone has to spot things that nobody else even knows how to look for, and capital intensive is the very reason I'd imagine it works so well ... sounds like it would be the type of strategy right up my alley, actually ... would love to chat with you about that more offline if you're up for it Jay, or online is fine too, but may be straying a bit from the OPs original topic at that point.

I can only imagine the amount of carpet baggers who will flock in for this. 

I can't imagine how up and coming real estate investors even managed before BP lol.  

Another thought that I have is the same way residential investors hire property managers I imagine he can do the same.  

Originally posted by Account Closed:This might be a wake-up call.