Hi Stephen, I would suggest reading as much as you can and connecting with people in the industry.

In addition, you would need enough working capital to pay for insurance (which will be going up a LOT in Los Angeles) and to pay for property taxes.Don't buy this unless you have substantial resources and a cash cushion to keep yourself safe.

show all higher educational transcripts, dates, license information, background check, bonds, insurance, school location, office and class hours.....and more!

you just input the address and it import the information which has bedrooms, bathrooms, and square footage. just be careful with the insurance and property tax data.

As far as the insurance claims, I've had many. 

Let's assume your expenses (mortgage, taxes, insurance, maintenance, vacancy, etc.) comes to a clean $600 and the property rents for $1,000.

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

In Philadelphia the fundamentals are strong: leading industries/employers are in the Education and Medical fields which are known to be stable, proximity to NYC and DC, national airport, port city, affordability compared to mid-atlantic predecessors.

Mortgage PITI would be around 5300/m total w insurance, seller financing is around 3600/m w principal, 3100/m with just interest.

We also recently got notice from our home Insurance that they are cancelling our policy because of exposed wires discovered by their inspector.