That being said, I budget about 14% for Cap Exp and it has served me well for that specific house.

You may serve the former owner with a Three-Day Notice.

I have a family who lives in Sherman Oaks and works for a group who syndicates l multifamily in California that you may be interested in connecting with and could answer some questions about the market.

Oh yea, deduct your expenses such as loan serving fees, BPO/CMA, special servicers fees, O&E reports, attorney fees, code enforcement liens, forced placed insurance, unpaid taxes, repairs, then you get ROI.Consider these steps to being a note investor1.

I was never served with a notice of intent.  

To be honest, you'd be best served reading J Scott's Book on Estimating Rehab costs.

@Brian GarrettSince it’s a new LLC you’ll just have to show that you personally can afford the property l and that the property makes sense from a debt service perspective.

A nice hotel is $600/week, serves breakfast and has a pool.My rental houses are the equivalent of a nice hotel, with a kitchen and washer/dryer; at the price of a cheap motel. 22 houses, 82 beds. 

Alvin Holmes instead of turbotax, get quicken/quickbooks online (depending on your level of need) if you want better p&l, cash flow analysis/management and a file type that can be shared/access granted with a CPA for tax planning...you can also forecast with it a lot easier.

I have only been in the business for 15 years so I'm not the authority, but we focus on (1) buying right, (2) managing effectively, and (3) financing prudently, which has continued to serve us well over that time.What specifically do you think is going to happen here?