I think I remember seeing the property you bought.

Ideally, what I would like to do is find a private individual that I can sit down and explain my situation to and show my business plan to.

NNN - I am going to negotiate a cap on the expense pass through for property taxes to mitigate the California prop 13 tax increase; ideally getting very close to what the current tax exposure is.

Never a good idea to pay down a rental mortgage as it ties up cash and results in mega lost income.Once you get back on your feet remember to never park cash in real estate unless you are done investing and have more income than you can ever use.

My strategy is to find a multifamily unit that can use some repairs, nothing too crazy, to find a good deal, fix it, live in a unit ideally with a roommate and rent the other units out.

I was listening to a podcast a few weeks ago and remember hearing about one of the guests talk about a book that had to do with calculus and how its a lot easier to learn upper level calculus before learning basic algebra.

Thanks for quick response, and I did not know that I can shop for another lender in next 30 days.....I am very new to all this :(   I am learning that I should have done my homework got the loan approved before putting in an offer. corrections, seller did not accept the offer yet, the seller would accept the offer if I came up with proof that I have the pre-approval( remember I only have 50K in cash)also seller already agreed to pay the closing coast if I can show the proof.  

Some benefits I have noticed while househacking in my triplex:- I am at the property daily and can stay up on any maintenance and issues without having to remember to drive by or check in with a property manager- Rent collection is as simple as a door knock.- Tenants generally will be less inclined to try any funny business because they know you are right next door (or above/below them)- It's more conducive for learning as you go.- More favorable loan and insurance terms for an owner occupied property.There are also downsides such as:- Less privacy- Blurring of the landlord vs neighbor relationship- Can be harder to be the "bad guy" on things because you see your tenants often.

It all happens without me having to remember to go to the bank, email them, etc. 

I would join as many MF groups and stay engaged on BP (as you are.)The other thing to remember is that there are only two types of people 1. those in real estate and 2. those who want to be.