[I also had to limit how many 10's she could have because if not everything will be a 10 for my wife ;) ].Hope that helps, and hopefully others can chime in and bring some additional perspectives! 

Most owners/managers charge an additional $75-$150/unit/month for utilities into the rent.

That said, simple rehab projects if done full time and correctly should expect to have about a week per $10,000 of budget plus an additional week or 2 for clean up, market ready items, misc.

This type of lending is almost exclusively local, and it's unlikely that 99% of us here will be able to provide any useful info about your local lenders.

As I have mentioned in the past -it is not mutually exclusive.

Hope that helps.Couple other things you'll want to think about too if you haven't already-- owning real property in another state will very likely subject you to income tax in that state such that you will also need to file a Kansas income tax return each year in addition to California.

However, in CA with the annual franchise tax of $800, additional LLCs are relatively expensive.

Hey Everyone,This is a little off-topic from real estate but it's focused on wealth creation and investing. A good friend of mine works with Michael Lee-Chin, if you're unaware of who he is, he's one of roughly 2000 b...

My other option would be to buy a 2 or 3 bedroom single family and rent the additional bedrooms.

If you "jack" the rent up (even if you find a tenant willing to pay it), typically the appraiser will not give credit for additional value above and beyond what market rents would determine.