You may find you have an "unfair advantage" which you find an interest in utilizing such as a friend or relative with some sort of interest or connection in real estate or you might find a desire to do something way outside of your comfort zone.

Obiously it would depend on the sellers comfort, but from your experience what would you suggest?

I would also be comfortable calling it "typical" :)

But really what are the odds that two applicants will be EXACTLY the same, in the end you need to feel comfortable with the person in your investment property and contrary to popular being a jerk IS NOT a protected class so discriminate at will so long as you don't violate any fair housing laws.

If the personal decision suggests staying, you can do the same on your existing home...refinance or get a HELOC on purchase a rental.In many cases, your existing personal residence does not make as good of a rental investment as many other properties would and limiting your potential investments to one property (i.e. your existing residence) is, well, very limiting.Good questions and nice work on kicking these items around.  

So to answer the question should you buy a personal residence in LA...if you are staying...historically that is a 100% YES.  

I am currently a stay at home mom, working my accounting business from home as well.  

Stay engaged!

Stay engaged!

Hey everyone, I am a mommy to 4 (5, 2, 6wks, & 6wks) I have been looking into flipping houses for a few years now (I know I'm super slow but it's scary) I had bought my 1st house when I was 19 and it was the pits I spent made it liveable and then we stayed there for 5 years until we decided to sell I spent about 8 months completely redoing everything while living in it with 2 little boys.