I think they’ve proved your point Stuart.  :-)We’re doing just fine and we’re attracting more Californians than we need. 

Purchase price: $575,000 Cash invested: $75,000 Sale price: $775,000 This was a tough one.

Quote from @Kevin Sobilo: Quote from @Greg Scott: This is a tough lesson.

Stick to the facts which have lead to the eviction that you can prove (rent was not paid), don’t waste the courts time with any other drama.

Tough love. 

I've been a broker dealing exclusively with multi family property over the last 20 years.Landlording is a tough job. 

So many folks are out here touting making millions with $0 down and you proved that even with all the due diligence and good investing sense, you have to be prepared and take risks that are proportioned to what you can withstand.

While the "narrative" is good, the devil is in the details, and I see this as more of a black-box than an open system.We work with a couple other larger operators besides BAM, but in short my only complaint is the detail in the reporting, especially in tough times.

There are usually plenty of flippers who are having a tough time finding deals no matter where you are.

And you'll have the best rate/points options with a primary residence.Option #2 is great, especially if you're willing to move into one of the units (because the down payment minimum is just 5% or 3.5% depending on program), but as you mentioned it's really tough here to find small multifamily here.