The kitchen and bathrooms were updated, painting and removing overgrown shrubbery and trees.

You will need architectural and engineering plans for the builds.One of your other main points of diligence from the beginning is going to be how will you get water, power, sewer/septic, and potentially clearing of trees and other land issues to get to build these properties.

25% for flood when creek rises, fire, non paying tenant, roof repairs, tree falls on duplex and insurance deductible is $2500, tenant puts toy down toilet and clogs main line, dog which you did not allow bites someone, disposal stops working, property manager 10%, property taxes increase because they see you did rehab or you changed the title, noise fine as tenant decides to become a drummer, trash bill, ants or vermin and you have to hire a exterminator, mold claim, planning department inspection fail, city fee as business, legal fees, CPA fees, insurance goes up, Imperial Beach business license and landlord permit/ annual fire safety inspection/gas co inspection $1500+, heaven forbit the Coastal Commission says you dumped foul water, to name a few

My master degree in finance is like decoration in a christmas tree.

Or the trees that fall across the roads.

They don't get paid when there's a kitchen fire or a tree falls on the roof.

Demand for rent will stay high and these trees I’m planting today will produce ok in a few years when housing prices will be on the upswing again.  

Tree removal was 4k.when you buy a property, set aside cash as reserves.

Either get pics when the trees are filled in in the back or do a little something to spice it up.

It is a very unique property that consists of a "tree house" that is purposely designed as a couple's retreat - it's very romantic and has all the right touches.