Hello BP,Like many I have been on here lurking for a while and finally decided to address something here that I need your expertise on.

Fast forward 2 more months when the final inspections were being done, the water had to be turned on and we assumed the new toilet fixed the problem, but then I get another bill for another $400 on top of the other bill. 

Be straight with all interested, explain there are multiple applicants and taking best and final by x date.

Here is the info:Tenanted duplex with 2 2br/1ba units, both tenanted and renting for $600 each.Financing is via private loan at 4% interest only payments and final balloon payment at end of term (5 or 10 years, tbd)Asking price : 57,900 ***note: following numbers are assuming the seller's asking price, which I would NOT offer***Est'd ARV: 60,000Est'd rehab cost: 15,240Closing/Legal cost : 1,500Down Payment : 17,000Total cost of project : 70,400Total borrowed amount : 53,400Total Gross income : 15,880Total Expenses  : 9,054Net Operating Income : 5,478Annual Debt Service : 2,136Cash Flow : 3,342Even with the over-market asking price, this property is already cash flowing.

I think my ideal final exit strategy would be to consolidate all of my equity into 1-2 large MFHs which  bring in my monthly income goal.I would love to invest close to home however i'm not sure if it would be the right move due to the high property values in the northern California area.

Since my viewing is tomorrow I suppose my goal tomorrow will be to simply walk around the property,take really good pictures, build rapport with seller (it’s not the actual homeowner but an acquisition specialist that is doing the viewing with me), and take lots of good notes about repairs as I can.

Good on you for finally starting the eviction process.

We'll be visiting in two weeks to checkout the area and get a feel for the city, then the final decision will be made.It sounds like a lot of awesome experience going into this virtual hangout, I'd appreciate an invitation please!

So I got a tenant finally moved in mid December after a 5 month vacancy.  

The syndicator I did acquisitions for  back in the 80s we had a big 200 unit in Stockton I put together.. and they moved in a bunch of folks from Vietnam..