Again, feel free to contact me if you are not familiar with any of these concepts.Part of what attracts tenants to a specific property is meeting their "wants," which may be separate from their needs.

Additionally, any existing restrictions at the town level (there are MANY) will be abolished, unless deemed "reasonable" by the state.

Quote from @Shiloh Lundahl: @Jay Hinrichs so it sounds like you don't feel like you got punched in the face by real estate over the past couple of years. 

I believe it is over priced (originally for sale by owner for $280k,later listed through agent at $360k), but I feel like the seller may be open to a creative financing option. 

A few things to consider:Utilities: Do you know if seperate gas/electric meters exist and who pays for the water?

Hi, I am in negotiations to purchase a property in Sacramento, CA which has an existing lease with a Residential Care Facility.

Purchase price: $260,000 Cash invested: $135,000 Sale price: $535,000 Gut remodel of existing single family to create an updated single family home.

Together we make about 120k-ish and as were doing this, were actively paying down our credit card debt which together is about 20k at the moment, just fyi.I feel like this is a solid plan, but I'm not too big headed to admit that I don't know everything.

@Wynn Williams You could buy it subject to the existing mortgage, but I'm hearing about those due-on-sale clauses being exercised often now.I would structure it as a lease with an option to buy.

I'd also be happy to answer any more questions so feel free to reach out via DM.