When down cycle happens lenders tend to go in a defensive position when they see a declining economy.

I had a friend who was an investor and she said to work in 10% for maintaining the property.

Approach them respectfully, as you would like to be approached if you were in that position....they know what’s going on.  

Think of it from a maintenance perspective, cleaning, fixing, maintaining - one roof, one building, one plumbing/electric/water system versus multiple.

You will have negative cash flow and will only be able to rely on appreciation to profit....extremely risky.Additionally if plan A is a serious option for you then you are a very low risk investor and may want to reconsider directly investing in real estate and may be better off putting your money in a REIT.A investor, assuming they have the ability to move, would sell the CA property and move their money to where it can actually produce positive cash flow.

Sounds like you're already familiar with real estate and working in a positive direction on your career.

My boiler that heats my indirect was cycling all day in summer when no one was using hot water just to maintain the temp.

Everybody needs a place to live and apartments are one of the best passive investments and it makes money on day 1 if that is one of your goals and it can be a great long term investments.To do that type of purchasing of a minimum of about 32 units can afford a Property Management Company and still have a positive cash flow and each vacancy does not hurt so much.You do not need to have any experience to buy them,.

Back in the day it was a little more niche.My experience with MMM, as much as I love their name, hasn't been all that positive.

They are very different.To "assume" a loan means that you are getting the current lender's approval to take over the borrower's position.