I wanted to help them out and minimize their loss and saw an opportunity to get a property slightly below market because of my commission savings, immediate mortgage and maintenance relief, in addition to keeping a lower short term interest rate How did you find this deal and how did you negotiate it?

Using mortgage debt at 6-7% on a refinance to pay off higher rate debt such as a credit card at 15-25% is a savings!

Examples could include:Partnering with other investors to share risk.Using seller financing or lease options.Leveraging creative rehab techniques to save on costs.Negotiating with contractors in a unique way to reduce expenses.I’d love to hear any stories, tips, or approaches that helped you pull off a deal others might have instantly passed on.

(I don't have $10k liquid, are there other options or do I just need to save-up for a few months?)

I'm often surprised by the things tenants due to save a quarter.

This translates to at least $10 K a month in savings.

Start saving up and buy your first place.

The last thing you want to do is go through formal sale since you’ll lose the Prop 13 tax basis, which is likely a $20k/yr saving.

Do you save three months of vacancy for each unit and $50,000 for the roof replacement?

For example 3 years ago it was maximizing returns and today it is about preservation of capital.