Think about 1- the out-of-pocket expenses (almost everyone gets this wrong)...and include all costs very conservatively...this includes things like the down payment, the inspection, appraisal, prepaids, points, closing costs, etc (find a good closing cost estimator or contact a local title agent to get buyer costs in your area)...and the extension of that is the condition of the property and needed repairs...if repairs are needed, that cash is coming out of your pocket....and you are paying property taxes, utility bills, to keep the yard up, etc...holding costs can grow very quickly if you run into renovation delays. 2- the relationship between the income the property produces and the purchase price. 3- realistic operating expenses...we've been able to run almost everything we manage at 20-30% of income...this isn't easy...most properties operate at 40-50% of income. 4- your goals...since you are a smart investor, you are not basing your decisions on cash flow, you are looking at long-term value, appreciation, debt-paydown, and most important, equity.That said, if you are buying a $60k property with no repairs, occupied at $800/mo. and operating at 40% of income, your ROI is through the roof on paper...but finding your true ROI is a more difficult task.What numbers are you using to analyze this one? 

The statement from Newsom's office is here: https://www.gov.ca.gov/2021/01...I do not believe this has been approved by the legislature yet.I've linked 2 other interpretations of the extension proposal belowhttps://abc7news.com/ca-evicti..."

I am just starting out on this path and have done some extensive research into the market and potential opportunities, however I am reaching out to see if anyone is interested in either partnering or simply available to share their experience in something similar. 

I have done extensive research in the area of interest and feel ready to dive in.

If anyone is still following this thread - I did extensive research in the local area in Raleigh-Durham and decided to go with a firm that most aligns with my goals as an investor.

Condo conversions require extensive legal fees however.

My fear is more about the collecting payment and wanting extensions or something similar to that.

The key thing with townhomes is the HOA, make sure you do extensive research on the HOA reserves and how often they have raised their monthly HOA dues per month, some raise it every year!  

Will it need an extensive rehab?

How extensive are the renovations?