Commercially though the loan is backed by the physical property, but ive seen it done both ways, just double check with them.

What is the average rent per bedroom in Bay Area (Stanford, San Jose, SF)?

The issue is that it is a Bi-level and the appraiser isn't counting the downstairs as Living space even though there is a master bedroom full master bathroom and powder room.

California investors who sold off property getting 3% return are now plowing money into close by states they can drive or fly to easily and happy with doubling return to 6%.

Seeing so much great advice and information here, I was wondering if anyone would be willing to share some wisdom on my situations:I live in Vancouver and purchased my first rental property (a one-bedroom condo) last year. 

However, if the rents are really low it may make sense to go double that amount.

We’ve picked up so many of oceanpointe’s houses and seen the fraud first hand (mostly double leases where the tenant pays $500 and oceanpointe pays $650) but one we just sent an owner who had paid up front for a completely remodeled house a 51k rehab estimate.

He gets 800 a month per bedroom for a 3 bedroom house but in reality for him to make money he needs to charge at least 3500-4000 per month in order to make money.

I came back with 54,000 if I can’t assign do to having to double close.

There's a couple of reasons, but the big ones are that most seem to be brand new with unrealistic expectations for what they're getting into or they're old-timers still looking for grand slams when singles and doubles are all the exist anymore.