Your “overhead” costs to buy & sell the house + holding costs, interest, property taxes etc, luckily these can be pretty easily calculated, many websites like closing companies will have websites where you can fill out information about a property and it will tell you the costs to buy & sell, loan costs are easily calculable, take your purchase multiply by intrest rate divide by 12, that’s your monthly expenses multiply by the number of months you project the to complete, a good rule of thumb is even cosmetic can easily be 6 months anything more complicated can be 9-12 though all that can very greatly.3.

Bank Statements: Reviewing bank statements can provide additional evidence of consistent income and display how much cash they have in reserve. 

Basically my question is just whether or not this is typical and consistent with what you guys would do in this situation.

Wholesaling is getting a contract signed below market value and selling that contract to a back-end buyer.The fact that wholesaling is saturated has nothing to do with the difficulty to do consistent deals and close these deals and make money.What IS saturated is marketing.

Loans are so cheap right now I could rather easily and consistently at a minimum match my interest rate at pretty low risk and probably beat it.Plus, being my primary if I for some reason needed the cash I'd either have to finance it or sell it to access that cash.

Your purchase price was 15.6x the annual gross income, so this property sold at a 15.6 gross rent multiplier (GRM).If you do the renovation and add the ADU, the property will generate $13,400/month ($2200 + $2200 + $5000 + $4000).

@Alison CromwellIn order to obtain a flip loan with no consistent income history, the following steps need to be undertaken: create an impressive credit score, put aside more funds as a down payment, check out new methods of getting funding besides what is available from banks or other financial institutions, involve yourself in investments with toughened entrepreneurs, show how financially sound you are by doing things such as getting enough money into savings over time through frugal living habits or accumulating valuable assets that can be readily converted into cash when required among others like developing several stable sources of income or steadily growing one.

I don't like relying on appreciation, especially in a relatively flat market like ours and California seems to have a large number of problems, affordability issues, consistent outmigration, etc.

But you have to be there 10 years consistently after obtaining the proper residency and approved permits AND meet the annual donation requirements, THEN it will be reduced to 5%.However, after reviewing this again,I feel all the other details associated with Act 60 is not really worth my while.

With rent control laws in Los Angeles, as I see it, options to increase rents consist of:a) Cash for keys.