Here in California the tax assessments often times way off from what the home is worth (Because they only get initially assessed at the point of sale.

Collateral isn’t based on one-to-one, I can use it four to six times the amount I initially invested. 1.

@Leon Kanon may seem obvious to you, but I figure that I'd mention it in case it wasnt obvious to the initial poster.

I recently did a cash out refinance which paid off the initial mortgage and I got some cash out.

Also consider when you renovate your initial returns in early years are lower bc of up front reno then improve after two to three years depending on what you inject as capital improvements.

I am in CA, thus an out-of-state buyer.Per MLS (at asking price), P/I is $597; Prop tax is $139; Ins is $35 = $771 of known monthly expenses.With 10% Cap Ex ($170) and 10% Property Management ($170); my initial calculations were:Monthly gross of $1,700 / $20,400 Annual ------ NET: $589/ mo ; $7,068 / yr = Cash-on-Cash 23.56%My financial situation:  I have about $30k in various accounts that I can use as a down payment.

I would update your lease to include fines after an initial warning about leaving trash or personal items in the common space.I wouldn't allow tenants to mail in the rent.I allow them to deposit directly into my account, ACH or Zelle.Maybe get extra trash cans so that they don't have to leave their bagged trash by a full can.

So, my profit is MUCH higher, due to the initial cash purchase. 

But a Russian company came and purchased it cash after our initial meeting.

I'm thinking Scan over a PDF to me with the changes and I would initial it manually.