He found it because he doubles as a painter and the seller wanted to get the house ready to put on the market in the spring/ summer.

I’d rather double, triple or quadruple my cash flow by putting that equity to use and leveraging my way to wealth.

The buyer ended up buying and reconverting to a single family, and doubled his purchase price.Yeah, that's actually a really good and in-the-now viable strategy. 

If they're doing anything another tenant would complain about I send them a written warning and the minute another tenant complains is when I'll double check to see if I can file eviction for that specific thing and give the tenant three days to knock it off. 

The only item I would suggest is double check the payment terms of the your HELOC... in particular, can you pay interest only or are you required to pay a portion of principle each month on the amount utilized.

Historically, Charlotte has never experienced more than two months of this level of inventory in any given year.Days on Market Has DoubledCompared to last summer, the average Days on Market for rental properties has doubled, making it clear that tenant demand isn’t keeping up with supply.Why Is This Happening?

Pictures can be misleading. 

However, you can claim a tax credit on your California return for taxes paid to Oregon, mitigating double taxation.If you only plan to own this one property, consider using umbrella insurance as an alternative to an LLC.

Of 10% management 10% reserves. not understanding asset class's. so when you get into a CD class your serves need to be doubled or tripled.. 

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.