And beyond that we have a global credit crisis that has just begun to rear its ugly head.Empowering BK judges to cram down several thousand sub prime mortgages will be inconsequential to all concerned.It is just another feeble effort put forth by bureaucrats attempting to control the uncontrollable.

You also need to know what your front , side and rear setbacks are to see what size house you can fit on the lot.

One item just needed freon in the heat pump and the tenant requested a new screen door on the rear screened porch.

The first picture below shows what the creek wall looks like approaching the rear of the house,  the second picture shows the undercutting of the rock wall at the creek level, the third picture gives you a better idea of where the house and deck are in relation to the creek wall.We've owned the property a little over 3 years. 

There is a significant amount of deferred maintenance on the building, and as such, the rent are $80-$100 below market (though it's difficult to raise them because we have rent control that limit the rent on occupied apartments to inflation - unless the apartment is vacant, in which case I can raise it to whatever I want).The seller's agent has suggested that the building needs about $80K of work to get it in good condition, and here's a list of some significant items:-rear wall (east facing) has had bulging brick veneer removed and is ready for new siding or brick-roof currently has a leak around the chimney - needs to be sealed and drywall repaired in one area (potentially would make more sense to remove chimney and vent boiler out exterior wall)-one vacant unit (2br) now could use sprucing up in bathroom and paint/flooring throughout -one unit coming up for oct 1 (1br) could use upgrade in kitchen and bath and paint/flooring throughout -common areas could use some sprucing up - paint, maybe lighting, entrance door, perhaps flooring to improve 1st impression I've owned property before, but I am no handyman, so I'd need a general contractor to walk with me through the building condition.

As long as egos and greed don't rear their ugly heads, all should be good.   

Be careful on how you implement these, CA in general is a very renter protective state, I find that books on RE are often inaccurate in CA, flipping and rental books if I may say. 70% rule, 2% rule, it doesn't really apply, I would assume raising rent will drive tenants aways, 3% or $500/mo is only $15/year increase, but when you apply to LA where rents are $2000 for a 3/2, it will carry a hefty $60/year increase, at rnd of year 5, that's $300 more.

These are Two-Story Brick and Frame with Basement, so they look 3-story high with garage in the rear. 

Make sure you have a lease that covers your rear end.

If you're driving to work, you know there's risks, you could get into an accident, somebody could rear end you, get out the car and hold you at gun point, I mean should I really get into it?