. $3,700 = $1,850 left after estimated NOI30 fixed mortgage at 4.09% and 20% down:$419,000 - $83,800 = $335,200 Monthly Payments of $1855$1,850 - $ 1,855 = -$5 Net Cashflow Using Brandon’s 4-Square Method Income Cash Flow Rental Income $3,700.00 Income - Expenses Laundry $0.00 Total Cash Flow $595.00 Parking $0.00 Pets $0.00 Storage $0.00 Total Income $3,700.00 Expenses CoC ROI HOA $0.00 Down Payment $83,800.00 Lawn/Snow $140.00 Closing Costs $3,000.00 Vacancy 5% $185.00 Est.

This will be your most iron clad contract.2) Find a broker who can use a standard issue contract (usually written by attorneys but protect all parties) and have he or she write up the PSA. 3) If I were in your shoes, I'd tell the seller that you need to run the numbers by your "partners" and will send them something to them via DotLoop once you have final approval.

Another option was self storage but I think with the limited parking it would only be offered to current tenants for an additional fee.  

You can find most of them on Meetup, but please feel free to PM me if you are looking for something in a specific area (apartments, self-storage, etc.).

I'm currently working with several other investors in the area who are in your same shoes and are currently looking to invest outside of the Bay Area, so I know exactly what you're trying to achieve.I just watched California Association of Realtor's Year End Review for 2016 Presentation, An astronomical amount of people are moving out of the Bay Area and into the surrounding counties.

Ultimately I believe $575-625 is realistic after improvements are made and a bit of side income from adding storage units and possibly covered parking, etc.

If the unit was above grade I wouldn't hesitate to put in an offer but I'm now thinking I should add no buildings with below grade units to my buying criteria.I'm also wondering about providing basement storage for tenants and the related insurance and liability issues?

im in your same shoes trying to get my first flip this month

If I were in your shoes, I'd offer the friend debt only... a 6% loan with terms as long as your friend can handle.

while I normally never offer up my own services, I realize what you are seeking appears to be very time sensitive and your needs require a unique skill set that is not on every block.Having said that, I am a Nationally Certified Forensic Accountant, a Licensed CPA, I am a Licensed Florida Real Estate Agent, an avid real estate investor that owns 26 different commercial and residential properties, a Nationally Certified Business Valuator, have valued hotels and storage facilities in litigation cases several times, was a licensed Mediator for the first 11 years of my career (mediated over 3000 cases), Certified in Financial Forensics by the AICPA, a Personal Financial Planner and have a Doctorate Degree in Jurisprudence (law degree).