@Briyana Hawkins .  8 mile Woodward is fast becoming a popular area.

That's not a popular opinion on this site, but most investors on this site A) don't live in Los Angeles and B) aren't financially capable of entering a market like ours.So if you don't require additional cashflow right now, don't buy for cashflow.

It’s a 10 year old unit so there might be other problems that could arise after this.

This is a model I have always used here in NY, and is gaining popularity as landlord control of their assets continue to erode in other states.

So Cal is so popular and has tremendous value.

If I buy at that targeted purchase price & closing costs, then I should come close to the targeted profit (unless there are expenses that arise that were not in the original plan, like rehab overruns, etc.)

By popular demand, I've set the next meeting for two weeks out.

If you don't want to do this with a 4plex, then you can repeat the exercise with a duplex and see if that works for you.Well and if all that doesn't work...see if you can find a fixer/beater home in a place that becoming popular, live in it, rehab it, and refinance out of it and Repeat.and #1 rule is make sure your wife understand that dust means money and make sure she is on board with the plan. 

For example I see a lot of townhouses sold in the Bellaire region outside of Houston, or out near Missouri City, but I don’t see much near Ft Worth, is that because apartments are more popular?

Denver is growing... a rising tide lifts all ships.I own a few condo rentals and have had lots of investors have success with them.