@Brandon Croucier is giving you solid info on finding an experienced and honest mortgage broker who can shop your exact scenario both ways, with the rehab and without and break down the benefits of each with all fees so you can see an apples to apples comparison. 

LOLLet's break this down, shall we.

To be honest, I´m in the Maintenance & Construction for corporate businesses for some US companies in Mexico and we do some Real Estate down here also, but it´s way much different than the US, so I have much to learn from a lot of people around here and as @Julio Gonzalez, I think this is pretty much the right pad and place to start and to break my fears to start all over again from scratchAlso, I´ld like to hear more from @Justin Brickman why he voted for his city, pros and cons, it will help to read from a local...As I said before, thank you all guys for taking the time to write in this post and share some experienceDo you plan to owner occupy. $40k will not get you a non owner occupied San Diego property unless you find some unlikely alternate financing.

@Jae Yoo you should read your PM contract very thoroughly or even hire an attorney to do so, before thinking you can just break it.How would you feel if a tenant just broke their lease with you?

Do you currently work with an expert CPA who is helping you maximize tax breaks with your real estate investments?

Merry Christmas!

Stationed there almost three years, sold with profit and tax break for how long we lived in the house.

Here’s a quick breakdown of our financials:Operational expenses (excluding mortgage): $33k (Jan-Dec 2024)Annual mortgage payments: $58kTotal needed to break even: $91k+Income earned this year: $80kClearly, we need to bridge a gap of about $11k just to cover our expenses, and I’m exploring options to increase profitability.

I know that's not a huge cash flow, and any repairs could make me break even.

At this point, I have to say that Brad really does do well in this space and his program is absolutely worth it if you are serious about breaking through to the next level and doing a MF deal.