The other way around is a waste of time.There are areas in LA where a triplex or a fourplex are a good way to get into buy and hold investment, as the price per door is more affordable than SFR/condos.

Don't waste your time in deals like this.

Hopefully getting myself out of the rat race with minimal risks.Interested in renovation and flip projects as my passion is building design.

If you can't find anything applicable to the discussion with an hour of research, you should probably consider that you ARE WRONG.And btw, now you've just wasted my time reading this links that you clearly didn't even read yourself (especially the one that argues against you).  

Hi @Russ Draper and @Michael Le, thanks for your replies.I'm not sure it's a bad deal -- I think that it's a real nice property, with minimal repairs needed.

2. my second Option / thought is to use my VA loan, and purchase a nicer home / one that will rent for $1,300 - $1,500 a month ( afer the 1 year O.O. rule is meet ) , and plus I can technically get in a " Future " rental for 0% down .I could find an REO/foreclosed property that needs minimal repairs ( since VA loans are quite strict on the condition of the property in order for it to qualify and get approved for a VA loan ), and then do some updates ... paint / flooring while I live in it for 1 year , and then repeat the process of doing a Cash-Out refi and use the money for a down payment of 20% down on another $80,000 - $10,000 property.... wash ,rinse,repeat3.

I want to make it updated but minimize my cost.

There's nothing wrong with vegging out, watching a good movie, or checking in on Facebook from time to time, but it's far too easy to fall into the trap of wasting too much valuable time on things that have no long term worth. 

Thats why I didn't call yesterday didn't want to waste there time or my own but it may be good just to have on recored.

Taxation Issues with Lease OptionsSTRATEGIES TO AVOID RECHARACTERIZATION OF A SALE:Where the parties want to avoid having the lease/option recharacterized as a sale, the overall planning strategy is to avoid or minimize the above indicators of a deemed sale as follows:1.