I like how this appears to be cash flow positive but do not want to seriously consider a property without doing all the proper research.

But please keep reading, as it doesn't appear that you know how the system works.Even if you are the sole "owner," you can't sell without Folio.

In order to get hard money without a day job it appears you need to do at least a few deals first to prove yourself?

The average appears to be closer to 28 percent.  

This investor appears to be looking for CoC yield plays but of course does not want to buy at the tops.  

He did not appear to have driven by the comps because the photos used in the appraisal were the same photos that were on the MLS (same flowers on the bushes, same sky, same exact brown spots on the grass).2.  

Perhaps Photoshop too.On landlording, there's a great article that appeared on the BP homepage on 8 mistakes newbie landlords make.

However, since both units are rented this would be classified as an investment property in which case your rate will probably be 4.00% to 4.250% on a 30yr fixed depending on FICO credit score.The maximum loan to value for a cash-out transaction (investment property, duplex) is 70%.Based on the information you've provided it doesn't appear the value is high enough for the property to be eligible for a cash-out transaction but you can still remove PMI.If you want to send me a PM I can run a complete analysis to see if removing the PMI will offset the slightly higher interest rate.I'm also licensed in CA so if you're looking to purchase a property I can help with that transaction as well.

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@Curt Davis,That's an interesting perspective regarding lease length.I understand your point (multi-year leases would appear to provide more consistency and peace of mind for the owner and potentially less turnover and placement expenses over time).