Running a negative cash flow property will eat a hole in your wallet.

Let me preface this by noting that any of the individuals I would approach would be people I know quite well as I've established business relationships with them over many years at my current place of employment (since they know where I work, they can be assured I'm not going to run away with their money).

I'm a complete newby and have learned quite a lot simply by reaching out to experienced investors up here.All the best,Steve

@Matt Lefebvre IRR is something I've not dived into quite yet and need to learn. 

@ Joe Villenueve I have not finalized the HELOC terms, but it seems to be quite flexible with no minimum payment and 20 year pack back period.

Turnover is expensive.I also like applicants to not make so much money that they can move quite easily.

I've been following bigger pockets for quite sometime, but this is only my second post so please bare with me lol.  

My reasoning behind condo's initially was pretty simple - I thought they would be easiest to manage while learning the ropes of REI and it appeared to me that a lot of the SFH in my area were sitting vacant for quite a while (plus they wouldn't cash flow).

Depending on the type of inventory you're looking for the San Gabriel Valley can be a good option, there are quite a few properties that have 2 or 3 SFRs on a single lot. 

The weird thing , is that i just did my inspection about 6 months ago.I cannot get a a hold of lessee, i left 5 day notice to quit on table, also sent one certified mail.