Basically, from the lender's perspective, you just need to show how the asset is going to pay back the P&I and "cash flow" somehow.

But basic calculators for rehab and investment will work, you just need to put in your own numbers. 

I love seeing great projects like this happening on the Southside!

I prefer not to put any $ down as 10% would be $150k for this project.

Also, cap rates are so low it's impossible to BRRRR.I have a big advantage in LA area because I have a contractor partner who can build at cost, however, I am wondering if there is any interesting markets 1-2 hours from Los Angeles that can be more realistic to start.Would love to start with a project under 1M.

I'm based in the Western area of Los Angeles and we do projects all over the country. 

I almost think basic would be a good fit for someone new with one listing. 

Scenario 1: Condo conversionI'll skip all the renovation details and get right to the point - reasonable net profit from this project would get me around $863,000 which, after LTCG tax would be around $733,550. 

I would recommend deciding based on these criteria:Will you get along with them and if they are a good fit for the house.Do they have the basic credit, income, and eviction history that you require.Getting Leases and admin stuff set upUse e-sign technology to get leases signed.

I’m just still living with a relative right now so basically I want to move out and get into real estate.