They might have suggestions or updates that could help with this specific issue.

The interest rate is nice, if there was a way to increase the cash flow to ~15% or greater COC you could pull a HELOC on the property for 9% and collect the delta.again though, i would suggest selling it and trying to lock up a property or two with the proceeds that required some sweat equity, force appreciation through a reno, rent it out, refinance and repeat (BRRRR)

With now being a weekend, and going on Christmas week, what would you suggest i do?

As far as calculating cashflow, I would still suggest considering all the PITI and other overhead expenses.

@Joe Villeneuve @Theresa Harris, thanks a lot for taking the time and provide some info/ideas/suggestionsTo give you some color for these properties, there is a 15 years-plan that my wife and I are planning to have arround 5 to 7 properties in the same $$$ range (-+ $200K) that we can rent them around $1600-$1800I believe after 10 yrs, I am expecting to a better cash flow considering some loans will be paid in full, but maybe the next properties will have as you suggest 30 year-loan. 

One suggestion, go to your states housing page and find the inspection sheet they use and keep a copy of it when you walk your home.

This is after all construction in Los Angeles, if you've never done it before add 50k.If you have $500,000 in cash I suggest you use it elsewhere, this years long headache is likely not worth the 1000's of man hours you will also have to put into it running your very own team of scientists.

Narrowing down the options will probably come down to comps and city/neighborhood specifics; things like permits.Any good suggestions for finding out how long permits are taking in certain areas?

It's still a good market for long term rentals but the returns are not what they were 10 years ago - but if you can get past overly optimistic suggested ROI, it's a really solid market.

I will suggest you plan to House Hack a Duplex or Triplex or Fourplex every year for the next 4 to 5 years and you will thank me later.Goodluck man and keep us posted on your progress!