I tip my hat to you because you are way ahead of many of your peers. 

Do you have any other tips on "the live" in flip potential in LA? 

Any tips or advise would be great!

Are there any markets outside Boston that any of you have had success with a house hack or tips to succeed in this type of market?

Happy to connect and share more tips!

But if your budget is tight or your home only needs minor updates, your real estate agent can help you think outside of the box by suggesting simple DIY staging tips to help your home look its best.Bottom LineStaging your house properly can make it much more attractive to buyers, but it’s not a one-size-fits-all solution, and every home shines differently.

The other tip I would say is really get a good relationship going with a realtor in the area if you do not have one to give you the exact data you are looking for to be successful.

We worked him through the process, brought him a contractor, and gave him all the resources along with giving him tips on layout and all.

Thanks for the tips!

Certainly not impossible, but the multifamily market (especially for larger properties) is pretty active and below-market purchases, while possible, don't happen as often as they might in the smaller property space.Pro tip:  If you still like the idea of purchase cap rate, use stabilized yield on cost instead.