Although, you could maybe skip the financing contingency and then if you can't get financing it sounds like the house is in bad enough condition that you could back out of the deal because something new came up during the inspections.  4.  

Pure numbers don't look bad....And maybe look at some details like property condition (so no major outlays early for capital projects), your home base makes me think college, so are these empty each summer or is there mass competition for students (which can be management challenges).

it has to be kept up to market (and condition of the actual unit).Also consider @Yvonne 's point. 

I also consider the current condition of the home, the long term maintenance.

I'd like to speak with a local investor to discuss the current market conditions and hopefully come away with new information that will help me build my business plan / strategy. 

Property is in Southern California just outside the LA city limits--generally mild weather conditions.  

Put your calculator away and buy it, if it's in good condition!

A deal never happens out of the blue unless you are conditioned and trained to see itMay we all escape the rat raceGarrett 

Over 7000 sq.ft. lot in very good condition.

What are current tenants, leases, condition, and available financing like.