Anyone have recommendations for a good Bay Area accountant who both works with investors and also invests themselves? 

I know that <5,000 sqft you do not)Legal: $3,500Other: $16,000 (Budget for unforeseen issues)Tap & Capacity Fees: $27,515 Building Permit Cost: $2,391.17 (estimated $706K total costs)Site Plan Review: $224.64 ($100 + $.015 p/ sqft)Wastewater Capacity Fee: $750 per unit x 8 = $6,000Water Capacity Fee: $750 per unit x 8 = $6,000Meters: $300 per x 8 = $2,400Water Tap Fees & Install: $300 per unit + 900 installation = $2,400 +900 = $3,300Wastewater Tap Fees & Install: $300 per unit + 800 installation = $3,200Facilities Tax: $4,000 - ($500 * 8 units, I am assuming this will change as I haven't asked solid numbers )Total Development Costs: $783,785 (8 units costing $94, 848 each, which I think is high)Proforma CF $ - Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Income   Rental Income (Increase 2.5%/yr) 2.50% $ 79,200.00 $ 81,180.00 $ 83,209.50 $ 85,289.74 $ 87,421.98 $ 89,607.53 $ 91,847.72 $ 94,143.91 Vacancy (10% in Yr1) 5% $ 7,920.00 $ 4,059.00 $ 4,160.48 $ 4,264.49 $ 4,371.10 $ 4,480.38 $ 4,592.39 $ 4,707.20 Gross Income $ - $ 71,280.00 $ 77,121.00 $ 79,049.03 $ 81,025.25 $ 83,050.88 $ 85,127.15 $ 87,255.33 $ 89,436.72                   Expenses                   Real Estate Taxes $ - $ 9,000.00 $ 9,090.00 $ 9,180.90 $ 9,272.71 $ 9,365.44 $ 9,459.09 $ 9,553.68 $ 9,649.22 Insurance 2.50% $ 3,000.00 $ 3,075 $ 3,152 $ 3,231 $ 3,311 $ 3,394 $ 3,479 $ 3,566 Trash Collection ($250/unit) 1% $ 2,000.00 $ 2,020 $ 2,071 $ 2,122 $ 2,175 $ 2,230 $ 2,285 $ 2,343 Common Utilities 2.11% $ 2,400.00 $ 2,451 $ 2,512 $ 2,575 $ 2,639 $ 2,705 $ 2,773 $ 2,842 Management Fee (10%) 10% $ 7,920.00 $ 8,712 $ 8,930 $ 9,153 $ 9,382 $ 9,616 $ 9,857 $ 10,103 Repairs/Maintenance 3.00% $ 2,138.40 $ 2,313.63 $ 2,371.47 $ 2,430.76 $ 2,491.53 $ 2,553.81 $ 2,617.66 $ 2,683.10 Turnover/Redecorating 1% $ 2,000.00 $ 2,020 $ 2,071 $ 2,122 $ 2,175 $ 2,230 $ 2,285 $ 2,343 Snow Removal/Parking lot cleaning 2% $ 1,500.00 $ 1,530 $ 1,568 $ 1,607 $ 1,648 $ 1,689 $ 1,731 $ 1,774 Landscaping 2% $ 2,000.00 $ 2,040 $ 2,091 $ 2,143 $ 2,197 $ 2,252 $ 2,308 $ 2,366 Admin Fees 1% $ 1,200.00 $ 1,212 $ 1,242 $ 1,273 $ 1,305 $ 1,338 $ 1,371 $ 1,406 Total Expenses $ - $ 33,158 $ 34,463 $ 35,188 $ 35,930 $ 36,690 $ 37,466 $ 38,261 $ 39,074 Net Operating Income $ - $ 38,122 $ 42,658 $ 43,861 $ 45,095 $ 46,361 $ 47,661 $ 48,994 $ 50,362                 Property Value @ 8 CAP $ - $ 476,520 $ 533,223 $ 548,258 $ 563,686 $ 579,517 $ 595,761 $ 612,428 $ 629,530 Obviously, Once I account for my debt service (DS), say $758,000 @ 5.25% for 240 months ($5,108 p/ month), I am under water.Year 1 NI [$38,122] - DS [$61,296] = -$23,174 = Meaning I cannot do this project.......

Account Closed thanks.

@Joseph Renteria, if you've been regularly saving, and already have say $30k saved in an account, you should probably ask your BANK directly: Do they have a COMMERCIAL Lending Department, whose job it is to look more closely at the "deal" you want to buy, rather than your already-owned assets/income?

I don't know the answer to this, but I was thinking about it today....If you have a ROTH...key word...ROTH IRA, I don't see why the PRINCIPLE of that account couldn't be counted as liquid because it is POST tax and relatively easy to access with penalty.

Quickbooks for accounting.

I assume you mean outside the 100 year (1% annual event probability) zones.  

Originally posted by Account Closed:The demand for livable homes is magnified The ones that are fastest to market will demand the highest price Simple supply and demand   I can't speak for hurricane alley but Im not sure I agree with this.

thanks Account Closed - i see the higher coc % but the monthly cash flow is less

I see profits hitting my account in February after closing in October.