Living in Northern CA and being able to clear 6 figures on a wise purchase,  making a few hundred per month per door is not very exciting unless you can achieve critical mass quickly.  

You have an asset next door that I presume is working for you numbers wise.  

Insurance wise you need to include language to exclude certain dangerious breeds.

HI Ana,1-4 units is considered residential financing and is qualified at similar to a primary residence or secondary home.The differences are:higher down payments 3-4 unit properties its 25% min down payment and 20% on duplexes/2units for conventional financingyou'll need a min 6 months reserves for the subject property you're purchasing and 2 months on each additional financed property till you reach #5 fin prop.Income wise you can use gross rents * 75% - the entire mortgage payment to help you qualify for the property in question, in essence you can use the gross rents on the subject property to help you qualify so you won't need as much of your own personal income if you buy correctlyFHA can purchase a 1-4 unit with as low as 3.5% down payment if you live in one of the units as your primary residence for a min of 1 yearIf you have other questions feel free to fire them away.

Only after you got big equity-wise do you switch over to cash flow so you can live off that in retirement.

@james wise thanks !

@Matthew Hertz Regardless of how well your doing or make profit wise, no bank will make you loans to your LLC.  

Choose your focus wisely. 

@James Wise James... thanks for the tip on the Radio... and the Schlage dead bolts.  

Assuming your $20k is not a typo, the only thing you will find in our neck of the woods for that price might be a mobile home/trailer, which is going to have very expensive monthly lot fees and would not make a wise 'slow' fix up.And I have been at it for a few years now and have yet to convince my wife to get on board, so I know what you are going through...