Beyond what Chris mentioned to getting a good deal to make this fourplex in Northridge area work is that with FHA you also have the self sufficiency rule and in my experience only fourplexes that have gross rents of .90% relative to the sales price or acquisition price have worked with FHA.This means your 1.7 fourplex would need to rent for .90% or $ 15,300 per month or $3825 per unit in order for your FHA financing to go through.This is mainly why I havent done many FHA 3-4 units (SS rule only applies to 3-4 units on FHA) in Orange county/Los Angeles/San Diego except back in 2010-2012 when rent to price ratios were more in line with .90%.You could often find .90% to meet the SS rule in santa ana, riverside, banning, san bernardino, ontario, maybe in the valley by victorville/apple valley/hesperia and other places where things can tend to be a bit more depressed.Nowadays even a wholesale deal in a prime market like huntington beach or hermosa beach probably wont work (fourplex is probably 1.6 -2.0 M and wholesale deal is probably 1.3-1.5M) and if it did work it would be a unicorn of sorts and you would be a very lucky individual indeed.

@James CarlsonThe state passed a law that prohibits local jurisdictions from banning short term rentals.

Even if the breed is banned in the city, it seems HUD believes you must take it.http://www.nj.gov/lps/dcr/downloads/findings/Vinci...

(The city bans short term rentals, so I'd need to confirm what that means.)Can you guys give me some "blanks to fill in" & a formula to help decide what makes financial sense?  

Since this is a condo complex and not an apartment complex, we cannot force the owner to act, especially since we don’t have rules that ban smoking.

It's been a combination of a). moving around so much and b). an unyielding desire to avoid conventional career tracks.

In my market, we have a temporary ban on STR's, but my property is R4 zoning, so as restrictions get tighter, my profits increase because competitors drop out one by one.

@Kelvin Lee Eudaly's ultimate goal is to overturn the ban on rent control.

Not by a long shot (thankfully- I would've been banned long ago:) You are great for BP, Meghan.

Please send one my way- I've been temporarily "banned" from connecting for some reason.I do have a unique deal I'm working on...1.1 acre lot with a tear down mobile home on it.Wondering if any investors might be interested in buying?