OPEC has scheduled a 3 month production curtailment starting 1/1/2024.  

I wouldn't spin your wheels.I'd love to connect and see what I can do for you on a 5-9 Unit DSCR product.

I've been searching for quite a while today and the only thing that looks promising is called water hero and its a kickstarter campaign that was funded but the product is still under development.

I do have a Commercial Fix and Flip Program that will provide cash for the acquisition and to Rehab the property.Once it's stabilize we can secure Permanent Financing and take out the bridge loan.Multifamily has, by far, the most interest in CRE Financing world, if it's a good enough deal we can get you the financing but I refuse to make bogus promises about what is and is not possible.If you DO NOT have the cash to put down on the property there a few creative financing avenues which may be possible if you have a motivated seller that is willing to work with you on terms.The 68% occupied property would be most fit for creative financing because there is clearly something going on there with the current owner.You can look at a master lease with an option to buy or doing a wrap combined with a seller second... the only thing is that the seller is highly unlikely to accept those scenarios.Now... there is one "highly unlikely to happen" scenario where you could technically get 100% financing but, again, the seller would have to be out of his mind to say yes.It entails a Hard Money FIRST MORTGAGE of less than 50% of the "Quick Sale" value as determine by a BPO... this would serve as your down payment.

You want to make sure as a long-term hold it will produce 5%+ CoC return, and once you finish renovating & stabilizing the property, it will be worth at least 15% more than you bought it for.

I bought properties needing rehab for the last 24 years, had local contractors complete the necessary upgrades only to be able to max the rents, and sold them a few years later after the numbers stabilized using a 1031.  

comped the final product type and calculated build costs.

I feel like I am over reading into this, but I just want to do my diligence.Bonus question: This property is not subject to the Rent Stabilization Ordinance (RSO) and is not built in an Unincoporated area of Los Angeles.

@Pete Harper out of curiosity have you looked at modular home products that sit on a foundation?

Housing Market: 77008 features a higher percentage of family households (52.39%) and married-couple families (44.77%), suggesting stability and potential for property appreciation.Digital Advertising Demand: Houston Heights apartments (77008): 50,000 average monthly searches.