I would like to walk you through my analysis to see if I am doing something wrong with my numbers.Property: Duplex in San Rafael ST, South of Edgecliff Village in Fort WorthAsking Price: $155,000Down Payment (3.5% via FHA): 5,425Loan Amount: 149,575Loan Period: 30 yrInterest Rate: 4.38%Monthly Mortgage Payment (using BP mortgage calculator): 747.24Income:Unit A --> 695Unit B --> 89550% Rule:Cash flow = (Income)*50% - (Monthly Mortgage Payment) Cash flow = (895) *50% - 747.24 = -299.74** This computation was made only leasing unit B and living in unit A (house hack).A few thoughts regarding this analysis:1.The schools surrounding the area are below average schools (according to greatschools.org).2.I am not including the monthly taxes, nor the monthly insurance in my analysis (I have not searched for this information.

5)Going into these flips and not knowing all the possibilities of what is exactly wrong and hiring licensed tradesmen and pulling permits with the villages then being told you have to also upgrade this, and this is wrong etc.

If 150K or so is your budget, I'd try to find something in Little Village, McKinley Park, Brighton Park.  

hey guys im looking at a single family in the wildwood community of village mills.

Where is the property located, what village/town?

I purchased a 3 unit in reservoir hill, but was also looking in Bolton hill, Charles village, and federal hill.

@RyanDavis thank you for your fast response.I’ve never done this before and I do feel little uncomfortable reaching out to the family.But I’m only doing it because I know that they are ready to sell, the lady died in December, they already did some cleanup and the village inspection, so they are definitely ready it seems

@Nicole FrawleyAbout an hour and a half North of you (We just get Village taxes as well)

I actually used to live in Valley Village (Magnolia and Laurel Canyon).Anyway, SoCal can be a tough nut to crack for newbies.A couple years ago I mailed out lots of letters to homeowners across LA County with no luck.Then I tried rural Kern County and got a deal from a distressed homeowner in California City.The margins were not as large as they would've been in LA or OC, but I was able to rent it out for 2 years before fixing it up and selling it for a decent gain.Also, have you considered an owner-occupied small multifamily for your first deal?

Please disregard trying to post this in a local forum. Not sure how to delete!