Pretty standard apartment inside and out.Rent in the area according to rentometer for single beds is $640 so it's on the low side and with the old original appliances and cabinets and stuff, has upside potential.I was thinking of offering 380k to start and subject to financing, with inspection contingency, request a schedule e (he showed us numbers from his accounting software already but to be safe of course,) and estoppel certifs.Income 52kExp 14kNOI 58k~Rents- 525-575My broker said he'd go 390k max but he said he thinks it would be a good buy to hold for cashflow and rehab units for higher rent. 

Timing and location of your house is important but if you can take advantage of that law and keep collecting money every few years by selling your primary home you should have a few hundred thousand dollars (assuming a major city like LA) by the time you're 30.  

Many HOA management companies have created an extra revenue stream for themselves by charging hundreds of dollars for a small amount of clerical work when a home is sold.

I know there are people that flip over a hundred homes a year and some that just will do one.

I used to buy pre foreclosures for a living for many years I bought hundreds of them literally in CA OR WA.. so we did this literally every day.. you don't want to rely on an Attorney or title company. once you know the amount then you can tell if you want to waste time working on it..

I ended up using that gift + appreciation on our house to buy a rental last year, so turned $30k gift into several hundred thousand.

There are literally hundreds (if not thousands) of posts about it on BP.

Heck--look at bernie MADE-OFF---he is in jail...but many of his investors lost hundreds of millions of dollars even though they busted him.

If you don't want to have to keep up with regulations in tens, if not hundreds, of different jurisdictions, I'd look for places that have already addressed it in a favorable way.Arizona, for instance, passed a law last year that just went into effect that overrides any local ban on Airbnb and basically allows it anywhere in the state.

-The rent number is a couple hundred under the Zillow estimate... hopefully slightly conservative.