Instead of debates and personal opinion, look for proof https://www.ladbs.org/docs/default-source/forms/plan-check-2017/single-family-dwelling-duplex-plan-review-list.pdf under G (Interior Env) which defines the minimum requirement of a habitable room (aka bedroom or bathroom).

A low maintenance condo rentable to good tenants sounds like a good starting point to me.I’m 56 and reasonably setup for retirement, so real estate is a stabilizing diversifier for me.

Even if you got the 130k valuation, between the HM loan and the refinance the lender just took the majority of the equity in form of lender fees, appraisal costs, and interest.

Hard and fast rule for me no pools at tenant properties. 

Hey BP family, I'm currently trying to help out a family in need from having to foreclose on there property by taking over subject to, it has a high interest rate although the entry is around 20k I want to wholesale this ultimately Is it possible for me, to disregard my initial assignment fee to get a buyer asap and add a 2nd lien on the property as my fee? 

Typical cost for the setup would be in the $15,000 range which would include production of the Private Placement Memorandum, Subscription Agreement, and Operating Agreement, Investor Qualification Forms, as well as filing Form D with the SEC, and state “Blue Sky” filings in those states where your investors reside. 

I have met some great people on my journey, and I am looking forward to meeting more great people here.My relocation is a reset for me.

I am not out on the teaching circuit anymore, but I was for 15 years and have written 4 books, and many courses, on the lease option topic (one for the UK), so this topic hits close to home for me.  

Am excited to venture into wholesaling and I've been educating myself on terms, technique, and form of going about it. 

Good luck to you, it was a nightmare that I will never forget- great learning experience for me though!