It is a 3-plex in Los Angeles, purchase price $755,000, rehab is $100,000 max( hasn’t been updated since 1945), with an ARV of $1.1 million.  

When you can find 'good deals' on a regular basis, you are set.Going to some REIA meetings will get you in the mood to invest, but get some education.

I provide clean, quality units updated to the market standard, and I claim income and expenses on my taxes.

Travel credit cards are good for the signup bonuses, for which The return is much higher than regular cashback card. 

Just to update the thread...

(Windows, electrical updates, kitchen and bathroom)Recently (within a year) comp houses (3B 2BA) on this block have sold for 155,000 and 160,00.

If you go that route make sure they use the correct cement, you can't use regular mortar.  

Put it under contract and before you close take an updated report with the actual property to your lender for the Pre-approval.You and your uncle will have a lot less stress knowing the exit strategy is in place.  

Any insight is greatly appreciated as I could not find any updates searching the web.

The units have upgraded electrical and heat, updated kitchens and bath but will need some extra work to really make them shine.