Yes, it does require a little more paper work with the FHA, need to have the 203K Consultant involved and handle inspections/appraisals and such, but the fact that I can get into a property, have up to 6 months of mortgage payments included in the cost of the loan so that we don't have to worry about double rent/mortgage payments, rehab my primary residence the way we like it, save a 1930-1940's era farm house, and then refi into a conventional cash out mortgage later on and use that equity to go buy rental properties.......nice way to get started, without having to put up a lot of cash or live next to tenants/in town (I'm a RURAL kinda guy).

I am an agent with Berkshire Hathaway Los Feliz office and I live in the Studio City area.

For example, in Austin Texas, the areas by the University of Texas is littered with old 1940's era houses that are not in pristine shape.

Hi Robin I'm in LA, Los Feliz.

Los Feliz/Silver Lake area

In the small cheap 70's era rentals with few windows, especially around the college, it's pretty common.

We've invested in renovating older 1970's era apartments to grab better tenants - and better rents.

We've invested in renovating older 1970's era apartments to grab better tenants - and better rents.

Feliz Cumpleaños BP!!

Tony Sera Hey there, Anthony!