And even if you're buying that property with 300k for cash, no renovation could raise the value enough to produce enough additional equity to take out at refinance. 

The goal is to buy and hold a property that produces positive cash-flow (doesn't have to be a lot - I'm just trying to have a first investment that doesn't fail). 

I find out in 2015 two bodies was found in it..

He went missing and the police found his body the next day  in a crawlspace under the house that he went to evict.

We also do not self manage our STR units but they produce enough cash flow to pay for a PM which would be less the case for units purchased today.Most Coastal So Cal investors are relying on Market and Rent appreciation. 

@Jesse Boren I am producing 4 videos on the VA loan and strategies as we speak.

People get cancer from the sun and still rub chemicals all over their body to prevent it.

Due to changes in the property,2019 will be higher producing.

We are on year two with that owner, and that unit is still producing a profit of over $1000 per month or $12,000 per year after all expenses .

That way I could still produce the same quality result within the same budget.