With the new rent control policies, there is zero incentive to lower rent as it may take years before you could recoup that with the minimal increases they allow. 

@Mitch Holmes With $400K-$500K in cash and your contracting experience, start with smaller flips in the $300K-$400K range to minimize risk and build experience.

If anyone has questions about:Seller financingSubject-to dealsWrap around mortgage dealsLease optionsStructuring deals with minimal cashI’m more than happy to connect and share what’s worked (and what hasn’t) for us.

Part of the “problem” is that unqualified  syndicators tend to take money from anyone who meets minimal governmental requirements.  

I'd minimize the risk of having negative cash flow in the first 12 months when things are the most unknown and I'd be able to increase the gross rent of the property which should give me a better loan or at least bigger margins to cover my risk for negative cash flow. 

Investing as an LP in syndications/funds can be a great way to gain real estate exposure with minimal time commitment.It's key to invest with the right sponsor that has track record of delivering returns (ideally been through at least one downturn).

No pitch, ever.

Whoever told him (or you) that Section 8 was guaranteed rent was pitching something.

Also, I’m not into tax evasion necessarily but she’s owned the place forever and has minimal taxes.

For minimizing upfront costs, FHA is better; for liability protection, conventional with an LLC is ideal.