.🤑 By purchasing a fourplex, living in one unit, and renting out the other three, you could effectively live for free while simultaneously building equity📈 and generating passive income.

We have consulted with real estate lawyers and they basically just tell us you guys need to create your own terms and how you want to proceed. my thought is, 100k down while waiting for loan to assume, and seller financing and living there until that moment, and covering the rest of the funds at the closing table.

All you have to do is make a compelling point for them, and having a broken property that they don't want to fix can be a reasonable one.Anyway, allow me to give you a couple of points to think about.Downtown LA has been suffering because of the working-from-home shift and the effects of the homeless.

Most lawyers are extremely risk averse. 

This just might be my opinion but at this point even if you're out one months rent which definitely sucks it may just be easier to start showings.I don't know what the L/T laws are in your county/state but perhaps send a notice to the emergency contact with something to the effect of pay or quit with an option for a release out of the lease and be done with it. turn over this unit and get it out on the market again.

Note the law was in effect nothing because a jurisdiction could have allowed this prior to the new law and must op In with the new law.  

-"notice of assessment lien"  I think this is for not paying the HOA (He claims he did pay the HOA) about 3k-"transcript of judgement"  It looks like he owes a credit union 16kFor what it is worth, he has hired a lawyer to try to get out of his debts.Are the following assumptions correct?

At 40% expense ratio which is more realistic you effectively need the Gross Operating Income to equal 2% of the asset price.

Some markets need a higher-end build out to be profitable others going basic on finishes is most effective. 

Tenant had a notice to vacate after 4 day grace period and lawyer submitted eviction to court last week (they are only late for July).