We all think we’re invincible, but there’s always that risk something terrible can happen to you.

You could very easily be in a terrible spot. 

This is so sad and terrible.

If you have to ask this question, no it's a Terrible idea.To be successful with your purchase out of state you will need to understand that not everything is as it appears. 

Not only is the rent high, but you'll be paying out your nose for everything else as well.4) The Traffic is Terrible -- San Francisco ranks #3 in the US for most congested traffic.

Who knows what really happened, just a terrible thing all around.  

The owner is 90 years old and got the building very cheap. zip code is 94080 so it is south san francisco.Putting those terrible number aside, I do want to understand how ppl play this game in the bay area. 

Those thin margins will now be destroyed.However, if you do have the 20% available and the repair costs needed, your ROI won't be that great but you'll have a profiting property. 10% for CapEx and Repairs isn't terrible and it's not the best.

It was a terrible deal.

I appreciate the input, as I'd actually thought HELOCs carried really high rates, but it seems they aren't terrible.