I was in Milwaukee two months ago with my old partner visiting her mother in an Assisted Living.

I have several clients that 'self-manage' or have a full time private manager that has enabled them to offer their manager/cleaner (occasionally the same person or couple) double the hourly cleaning rate (compared to national PM companies) while reducing the booking/cleaning fees for tenants. 

As an agent representing sellers you should always make sure there is earnest money deposit as part of any accepted offer. 

I am not looking to be spoon fed information, rather an individual who can offer knowledge from past experiences. 

Welcome to BP @Spencer Tillman, we noticed you aren’t a Pro member at this time and we would love to offer you a 20% off discount to start taking action in investing with confidence!

I have been able to assist them with local builder contacts, local property management, and also helped with securing wildlife permits if applicable.

If the lease says rent is due on the 1st, I would give her the option of following the lease or moving out.In the future, every offer to purchase a property with existing tenants should include a request for an estoppel.

I keep all my real estate Investments in Kentucky. 7% or more is the norm for single family residential while in California you most likely land around 3%-3.5% cashflow, you're not even close to cover the interest rate.Definitely check out Midwest states, they offer low entry point and stable rental market.

@Nick Maugeri no bank will offer a LOC on the properties (even with very attractive LTV) bc they don’t want 2nd position.

FOLLOW THE K.I.S.S method plan (keep it simple and stupid).Find and hire a real estate agent that understands multiple investment strategiesGet pre-approved - see what options you havebased on your pre approved price - identify an area you want to invest in that you can affordLeverage the agent to : bring you properties, assist in pulling comparables (you should know your comparables of the area you are looking in, this is for a second opinion) review and confirm your estimated rental income, assist you with acquiring the property, and have a list of resources you could use; contractors etc.Looks at properties and make offers that work for YOU.Also,Do not pull your IRA money out, leave it there and let it grow - leverage this to meet your lenders reserve requirements.Buy Multi family to holdBuy single family to fix and flip and produce more income to buy more multi families.