And you have a tenant in the unit you are NOT currently living in correct?

The current rents are $600 per unit, and the seller mentioned significant renovations over the past two years.

Jalen,There is actually a Portfolio program that will only require 15% down for any investment 2-4 unit multifamily.

The only thing was, got a break from the seller when on purchase, prices went up like crazy, so after 15 years, 1031 the property into another.Talking about tenants in their 70's, I looked at a property here some years back, rent controlled, tenant is paying $98.00/month on a unit where the market rent was $800.00, and the tenant at the time was 90.

A high rate probably means there are too many new units being built.

I like the property because it has a great potential to add a second 1 bedroom unit.

@Andrea Prada SerranoThe income from the 2nd unit should offset your largest expense - your rent.

. #2 because most property managers are too overwhelmed with the volume of units they manage to give you personalized, meaningful service. 

This particular unit is an ADU and utilizes my electric/sewer/water so they pay portion....

Specifically the property type, unit count, LTV, etc.