We are also thinking a budget of about $800k (including lot).

I am based in SF/LA and with the sky high purchase prices here, I'm not seeing much based on my budget.

Find a job...apply for section 8....move in with a friend or relative and split the housing and food cost...Go drive a wrecker truck not all are so choosy regarding your past.

I’ve read a bit about looking for budgeting for Cap Ex, vacancy, pest control, property manager (in case I don’t end up living in one of the units) taxes, checking to make sure zoning is right.

So we did some market analysis, I had the property manager go over and we figured out a 15k budget for mostly cosmetic fixes.

That's because the caps on annual depreciation and expensing deductions for passenger automobiles don't apply to trucks or vans (and that includes SUVs) that are rated at more than 6,000 pounds gross (loaded) vehicle weight.SUV’s with an UNLOADED gross vehicle weight greater than 6,000 pounds but less than 14,000 pounds are allowed to claim a Section 179 expense of up to $26,200.Trucks with an interior bed-length of six feet or more are NOT subject to this $26,200 limit.Trucks over 6,000 pounds UNLOADED gross vehicle weight with beds shorter than six feet are considered SUVs and subject to the $26,200 limit.Trucks, vans, and SUVs with a LOADED gross vehicle weight of over 6,000 pounds are NOT subject to the Section 280F limits.

@Jesse Goswick budget for 3%

That’s a pretty large rehab budget, but I guess work in California cost more.

Had a tenant try to run down his wife with his truck.

I make $120k-$140k/year and owe the $35k on the house and $12k on a truck.