In addition, you would need enough working capital to pay for insurance (which will be going up a LOT in Los Angeles) and to pay for property taxes.Don't buy this unless you have substantial resources and a cash cushion to keep yourself safe.

I always run the numbers as a LTR to be safe. 500k is steep for a duplex but it all depends on what each side will rent for.

You've got to include loan pay down, appreciation, and depreciation in your return calculations.The point of cash flow is to keep you safe.

The model won't be perfect, but should be a very helpful decision maker for when you can safely leave your W2 and establish your budget going forward.

Happy to answer any questions about the situation.Please be safe and stay away from him, or any companies he is involved with. 

A phone call will answer all the questions or a quick visit is better, set an appt. 

While your deposit remains safe as equity. 

I love a good creative financing transaction when done safely and ethically.

I have a Capital City Visa card with an 18k credit limit, so to be safe I only put $17,400 as the amount to wire.

Actually in Florida the safe harbor rule only applies to the lender foreclosing.