I would not have bought this to be a rental property, since the numbers don't make sense.The risk of renting it out is that the house condition continues to worsen faster than we can afford to fix it, or yet more problems are found.  

I do a lot of write offs through this and one thing im curious about is how i can structure house / flipping & rentals in my business.I plan on continuing to work in the industry i am in due to the flexibility and earning potential... on good years i will very likely be able to earn north of 350-400K and still have 4-6 months I can dedicate to REI.  

I wish you continued success.

We like to play fair over here so I can send you links on just us or a few detailed sites (that we don't manage) on every software, including their information.

It was not 2,000 miles away though so that played a major factor that's for sure.What I can say for sure is that investors need to make sure they do not have to rely on the tenants rent to pay the mortgage, especially if they are out of state.

You need a good paying job and will need to free up as much equity as possible to be able to continue to invest and grow.

Please join my meetup group here and come play cashflow 101 board game on Fridays. here is the link https://www.meetup.com/Orange-Cashflow-Meetup/even...

We will be happy to help you with more information If the wholesaler plays hardball with your earnest money, go strike a deal with the seller directly

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 recently began renting a unit in a five unit multiplex and somehow want to talk my landlord into selling me the place, where I would continue to live for free and collect rents!