This eats up A LOT of these expenses.

The $800 FTB for the IRA LLC could eat up into your profits.

Or just eating it?

There are some provisions to get the money out when you are 45 years old but you need to eat today. 

A handyman landlord working with minimal help can do good work in these places, stay on top of things, and keep perhaps ten of these tight little ships running with practically zero outside labor costs eating into his profits or excessive time commitments, while he does modest, leisurely little spec rehabs and occasionally larger live-in flips anywhere he finds deals, accelerating his timeline to  pay off his street of moneymakers. 

If not, that will eat into your profits.Also, closing costs seem low unless the seller is paying some of them or you're an agent (or this is off market). 

If you expect to eat, expect to hit the ground running, be a self starter, and ****ing close!

Of course, I've seen people live in an apartment without water, so it might not work if she's ok with living in filth.Amy - this is a 5 unit building a it was 7:30AM so we would’ve prevented everyone else from showering, eating breakfast and going to work. 

(my opinion)100k in the bank is worth a lot more than a rental with cash flow assuming vacancies/repairs do not eat that up.Housing values have to correct eventually.

Is the HML and PLOC going to eat into your profit margins?