A multi-unit property was purchased for $140k. 

Financing depends on your scenario and what type of property you're purchasing.

And even it's SF when you purchase it, again because it's not 100% MF including the county/city classification, you can use rental income from both units to help you qualify for future investments.Option #3 is something to use only when you're not willing or able to move into the property.

The only additional thing that needs to happen is make sure appraiser makes note of why the value increase in as is vs previous purchase price.

The larger the purchase price the greater the spread you need between purchase price plus holding costs plus rehab cost and ARV.  40k projected profit on a 600k project is too skinny for me. 

Purchase price: $230,000 Cash invested: $200,000Two homes on half an acre.

Quote from @Yash Shah: Hello everyone,I'm new to this group and would love to hear your thoughts on the pros and cons of purchasing a corporate or bank-owned home.

I also purchased these while residing in CA!

I included stats on percent unleveraged purchases and that many of those fairly low percent cash purchases in fact use unseen leverage HML, private lending, etc and some are short term cash holds such as a flip or a brrrr that gets financed not long after purchase.  

Purchase price: $355,500 Cash invested: $75,000 Rental Property near community college What made you interested in investing in this type of deal?