It’s so serious that, beginning January 1st in California, any lender who knowingly originates a consumer-purpose loan misrepresented as a business-purpose loan can face criminal charges and jail time.

Quote from @Dongzi Wu: The original one was deleted, creating this new one. 

I still made a ton of money net, from original cost basis to after splitting things unfairly.

So this is actually fairly straightforward... 99% of houses don't make good rental properties - your original primary will not make a good rental. $2900 (mortgage payment) - $2500 (projected rent) = -$400 (monthly cashflow).

From Excel, I originally switched to QBO, but I had to do quite a bit of finagling to build it properly for my use as a REI.

I believe that the ARV I originally thought was correct of 160-165k which after a cash out refi will get me my money back and then be about break even.

@Scott Trench what happened to the original thread?

I'm originally from San Francisco and ran into that same issue back in 2021.

Originally posted by @Tom Carmody:I’m newer to investing and came across a condo for sale in Florida which apparently is a “condo-hotel.”

Cap-ex was needed for:* Original 1960s kitchen, appliances out of order* Original 1960s Pepto Bismol colored tiles in the bathroom* Tobacco and marijuana stains/odor in every room* Stained carpet covering damaged hardwood* Broken side door from forced entry by police* Zero recessed lighting with 3 layers of blinds on every window* Lots of trash in the basement both on the floor and mounted to the joists overheadCheck out the Zillow listing at: https://www.zillow.com/homes/119-Jasper-Pl-Alexandria,-VA-22...What made you interested in investing in this type of deal?