I think I would've jumped in at $9k, but now that it's $20k, I'm sick to my stomach over that sticker price. 

If it wasn’t gutted and rehabbed properly, steer clear unless you’ve got the stomach for big projects.Pretty ain't everything – Solid mechanicals > Shiny kitchen.

@Ron BarSac is a great market in California, as long as you can stomach and understand the tenant/landlord laws, property taxes, and rent control in certain areas, etc. 

Quote from @Tyler Gassman: After being a member for over a year, I can personally attest that if you don't have the stomach to take advantage of people during their most vulnerable moments in life, this program is not for you and you will not find membership valuable.

In summary I’m a huge advocate of owning BTC as long as you are looking to hold it, have the stomach to withstand the volatility, and have free cash flow to invest in it.

Between now and then you can really crunch the numbers on rent vs. costs and decide how much negative you can stomach....at worst you still decide to sell in the spring and maybe it's a $40K loss instead of your current estimate. 

If you can stomach that initial phase you'll be in a great position when the property is cashflow positive and worth considerably more. 

You got to have a strong stomach to do that kind of investing. 

I know you probably have a pit in your stomach over this and are losing sleep worrying about it and stressed out.

If you can't stomach putting cash up front for building an apartment building you either need to find something smaller to start with or get out of developing.