Or at best you overpay and the "designer" buys the cheapest junk furnishings possible. 

Having said that, I think it is equally unwise to buy a property with negative cash flow let alone rent less than the mortgage.

You are a high w2 earner, The house is worth 110k today, you are buying from your grandma for 60k in exchange for free rent for life, upside ARV of 200k.The costs of owning the house will help provide tax relief on your high w2 earnings, you are buying a great chunk of equity that will pay off in the future, and you and your grandma are doing each other solids. 

I invest in the Kissimmee area, #1 rule of buying real estate is location. 

I too live in Marin, and feel it is a solid long term market for apprecaition, and utilizing the power of principle reduction.When it comes to refinancing, figure out what the loan costs will be, then divide that buy the monthly savings with the new loan in order to determine how long you have to maintain that loan to break even. 

😳This is caused by a combination of buyers not being able to afford to buy with interest rates back up above 7%, and seller’s not wanting to budge on their sale price...a standoff.My guess is 2025 will likely be just like 2024 and 2023 if rates stay above 6%....

(b) Once you know what you can buy, you would line-up a real estate agent that works with investors in the market you are buying.

If that is true I would probably sell and buy in a place where there is less competition.   

Review what happened and determine why each item was above or below your expectations so that you can properly plan for next year.Review your prior year goals.Did you buy all of the properties you set out to purchase?

Investment Info:Single-family residence buy & hold investment.