I live in SoCal so if I wanted strong cash flow I would likely have to look out of state.

The goal is to move into another property by spring 2025 to do another live in flip and keep this property for a few years at least.What made you interested in investing in this type of deal?

BF it, live in it, then leave it!

Quote from @Rou Odab: Hello everyone,We bought this house, and we're living in it and renovating it.

It can be done but it may take years to build up cash flow especially if you live in high cost area like CA.   

Additionally, young adults are living together with no intention of marriage.  

Completely remodeled home only minutes to Downtown Pensacola 📍BRAND NEW ROOF, HVAC, WATER HEATER, ELECTRICAL, KITCHEN, BATHROOM, SIDING, FLOORING, LANDSCAPING, FRONT & BACK WOODEN STEPS, AND ALL OF THE FIXTURES.

Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.

Otherwise, you may need to replace a water service (13-15k), electrical service (10-15k) and upgrade wiring (This is a tough one, but maybe an additional 8-15k inside).

Running water through it?