I would like to walk from the deal at this point but not sure where I stand on recovering my deposit.

Also have you read through the condo associations rules and checked to make sure there is not a large assessment coming or that the condo association is having financial trouble?

Mario Furmanczyk,seriously if you are determined to play with LA's rent control laws and renting in California in general,you need to find a very good real estate attorney who is an expert in rent control laws and California rental laws in general.California is one of the most difficult places to do business and landlords are treated like criminals waiting to be caught by our court system.You need serious protection with good lawyers who will help you stay in compliance and keep you out of financial troubles.Good luck to you.

I just read into buying multi units via FHA the other day and did read about the max number of units I just figured there were ways around it even if it meant putting down say 7% vs. 3.5 but if that were the case I guess it would still make more financial sense to stay with the 3.5 on a 4 unit.

Our goal is to one day achieve our level of financial freedom to be able to give our family the life that we are dreaming of. 

There is nothing a CPA can do that an EA can't except for provide you audited financial statements (the person preparing them cannot audit them anyway).  

I worked with them, and their financial support agencies, so they were able to line up alternative housing.

What is your stand point with investing at C or lower class areas for such an investor profile and per your personal experience doing so? 

@Mark Allen  I think your credit facility is a testament to your Credit standing your experience and your liquidity.. there are very few of us that can get credit facilities from banks at those rates.And for sure you MUST be local or usually..

I work full time in healthcare, and I'm starting this to hopefully become self-employed and financially independent.