PM) network- Risk toleranceand so on.And there are those that avoid residential like a bad cold and stay strictly office / retail.It can all work and it can all go horribly wrong.

Why a lender wouldn't take the time to spell out for you what I just did and also give you a loan cost estimate to give you an idea of costs and interest rates at the current moment, is beyond bad service.

@Adriane Gasperetti Riverside and San Bernardino Counties have some great opportunities for rentals in good and bad markets, have to agree with @Krystle Padilla as well regarding Yucca Valley, YV has been great to me for multifamily holds over the years. 

I'll start with "the good" and then move into "the bad."

No deal is better than a bad one as they say.

Hello BP,I have a unique situation and not sure how to construct an agreement and would like some advise.I do investing in Los Angeles, my brother has a house in Long Beach that was a really bad purchase from the beginning, long story short he asked me if I can help him fix it and ultimate flip it.

In our market here, carpet is bad.

The area isn't too bad and it's next to the University of Chicago so I'm thinking it could be a good start.Thoughts?

Mold, rot, electrical, bad floor plan all can be fixed fairly quickly.

Without looking deeper into numbers ( purchase price, ARV, potential expenses, cash on cash...) it's hard to see if the deal is worth the hassle.If this is your first deal as an investor I would say this is really bad and to complex project to take since you do not have to much experience.