A couple years later I got my bachelors degree en route to getting my CPA license and am now a third generation CPA in my family. 

@Simon Stahl  @Daniel GonzalezConsult an attorney to verify, but this is whai I found after a few hours research...... the "solution" is simple IF you are willing to do the followingOwner Occupy a FOURPLEX.....in Oakland that you buy..... .not a duplex or triplex.............ANDRent to Section 8 Tenants........Helpful Links................In the first line it says Section 8 Tenants are NOT COVERED by the Oakland Rent Control Ordinance https://www.tobenerlaw.com/oakland-rent-control/  http://www.tenantsunion.org/en/rights/section/subsidized-housing-section-8In the above it states thatHUD Housing and Section 8 Housing is considered Government Subsidized Housing and is therefore considered EXEMPT from Oakland Rent Adjustment Program!!!!!

And upgrade the units aggressively and en masse- if you can manage to change the building's reputation rapidly, you'll be able to raise rents sharply and quickly. 

the 13 best cities in America...http://www.msn.com/en-us/money/realestate/13-markets-where-youre-most-likely-to-see-vacant-zombie-homes/ss-AAiBTTS?

Can you create an en-suite in this potential bedroom? 

i've copy and pasted from different ones in order to make a spreadsheet that fills my needs.google is your friend - "budget and contacts type:xls"https://templates.office.com/en-ca/templates-for-E...  

You can find a lot on this page about renting: http://www.verhuurcommissie.nl/wetten-en-regels. 

So take it with a grain of salt.Your next 3 things you should do in the next 24 hours are, Contact Deutsche bank and see if they really are the current owner of the property. https://www.db.com/company/en/contact.htm or you can try the NY number to start the foot work.Reach out to an agent if you are new to this investing thing and let her know you are looking at a house, she might direct you along also.Finally find a bank to see if you can be approved for a loan or what you need to do in order to get approved.That would be what I would think.

Education en mindset are so important, thank you.

The heater is of 1940s vintage and a big time fire and CO hazard, so now I have some new heaters en route from Amazon to replace all of the outdated heaters on the property.