Just remember we live in a liberal state, we have too many laws protecting tenants.

That is just not the reality and if you choose to ignore the other expenses, they will bite you smack in the face once you own it and then the reality will set in that you overpayed.Using the most liberal operating expense ratio possible (37%), your annual NOI is $128,520 and at a 10 cap, makes your best offer $1.285 million (which I would not pay that much personally as I believe you would be overpaying)

JACKPOT I thought.

It does raise a red flag being on the market that long but if you can get it at a very very low price and your risk level can be greatly reduced and if you use very conservative numbers on rent and and very liberal numbers for repairs and vacancy then I would consider moving forward.

The shortage of apartments is do to liberal laws and regulations.

You have hit the JACKPOT of resources for real estate investors.

Just doing that little bit can be very liberating.

I am not looking for some jackpot.

PenFed's HELOC stuff is liberal, their 30YF first position mortgage stuff is more conservative.

Just a few blocks West of the 405 and one block North of  the 10 freeways and inside the new Metro-Rail 1/2 mile radius of the special incentive development rules to encourage more units for housing that allow new construction to have "special" or "liberal" allowances of set-backs, more height up to 5 stores where 4 were the max just prior.