What you do have is all the vacancy risk of having an extended rehab.

LANDLORD AFFIDAVIT FOR DELAY.the landlord delivers to the tenant an affidavit, signed and sworn to under oath by the landlord or his authorized agent and complying with this section.Affidavits under this section may delay repair by the tenant for: 15 days if the landlord 's failure to repair is caused by a delay in obtaining necessary parts for which the landlord is not at fault; or30 days if the landlord 's failure to repair is caused by a general shortage of labor or materials for repair following a natural disaster such as a hurricane, tornado, flood, extended freeze, or widespread windstorm.Am I missing something was the information provided to me in the consult inaccurate? 

The seller extends to the buyer a junior mortgage which wraps around and exists in addition to any superior mortgages already secured by the property.Each has advantages and risks so study up on them. in a subject to if the lender finds out that a new owner is in place besides the original borrower this could trigger the "due on sale" clause that is in the loan origination documentation when the borrower signed the papers.Just a few things to think about.

Plus I did a roof, driveway, repipe, rewire, Windows, vault ceilings, 80 recessed lights, smart home features, landscape, ran a new sewer line, new stucco, new doors, garage door, installed 3 paralam beams, 1300 sq ft addition of a master bathroom, bedroom, extend living room, and extend kitchen, appliances and all fixtures, tubs, toilets, all materials, you couldn’t even get close to this price in Los Angeles.

If you are not looking to keep property in your portfolio for an extended period, for me that is longer than 7 years, then look to invest close to home and a little more hands-on where you can maybe force a little more return into your deal.Lastly, much more important than the numbers themselves is who you do business with. 

I had a 5.6m deal that needed to be extended.

The deposit is for damage beyond expected wear and tear as well as any shortage of rent payment (if your lease is written properly).It does not cover carpets/floor wearing out, paint needed due to being occupied for an extended duration, any plumbing issues, not the result of negligence, such as slab leaks, cracked sewer lines, etc. 

Even if the rate is higher, by refinancing you will extend out the 30 year term by starting a brand new 30 year loan thus giving you more cash flow.

The property has 2 existing tenants that recently extended their leases in July.

I just extended my HELOC one more yr at 2.5%, and yes, its a variable rate that can go up to 20%..