Hello, Everyone - My name Is Cory Bagby and I am new to BP.  I currently live in Chicago, but I am originally from the Oklahoma City metro area.  I purchased a two flat in Chicago in December, 2013, and I am renting o...

I hope I will learn a lot here and meet new people/friends.As a recent transplant to Southern California, from New Jersey, I work in the IT industry currently and am doing some (really basic) real estate investing on the side.

Welcome from another East Coast to Southern California transplant

You live rent free, or at least at a highly discounted rate. 

you do owe it to yourself to Check out Grand Junction Colorado Investment oppurtunities as well as the outdoor life style " A GOOD DAY OF FISHING AND HUNTING is ALMOST as GREAT A DAY as INVESTING " lol  No matter where you go watch out for those California Transplants lol !!

Maybe my view is skewed, but I see a non relative home occupant who wants to have as much free "time" in a property he doesn't own before its foreclosed on so he can live rent free while he finishes the work on his own home.

Anything else you can think of is paid for (I live rent free, all utilities covered, vehicle free, etc).  

From friends and colleagues that live/rent in NYC, the bulk of owners/landlords of smaller properties in Manhattan tend to be long-term owners (eg; have owned the property for 20, 30+ years).From an investment perspective, the price in the outer boroughs coupled with the still extremely high demand for rentals makes it a no-brainer if you can afford the entry ticket.

That is far better than letting someone live rent free.

The plan is to rent the other 2 bedrooms and will live rent-free.