Hi Mark,I presume, by "CFP" you're referring to a Certified Financial Planner ??

@Ericka Grant I don't think the BP moderators will let me do that wthout having a fit.There are no shortage of HML's in CA; I'd presume the same is true in your area?

Would it be safe to presume the asbestos abatement was necessary as a result of the vandalism?

Don't be pushy, but at some point, bring up whatever it is you're trying to do, presumably fix and flips or some other short term project.

Lastly, you have to discount the end return using a FVM model since your return would take place over 20 years presumably.

Presuming the numbers work out after taxes, filings, etc., then investing in one state, both, or many others wouldn't really be an issue.  

@Isiah Ferguson - If you've got a duplex that you have 100% equity in, I presume you are cash flowing nicely from the property. 

Ok, with that as a backdrop...My concern, and what I am now trying to come to an understanding of, is if, in a time of presumably increasing interest rates and high inflation, will banks curtail fixed rate loans?

Presumably as items are completed the lender inspects to confirm the work is finished before issuing a check, but they are not asking for nor receiving detailed invoices for materials or labor hours worked.  

Presumably, if you're buying a negative cashflow property, you're going to have to calculate returns from appreciation in order to justify that investment.