Probably won't be doing it again, but great way to get my foot in the door and I got value out of living in the property for a period of time (house hacked).

However,   4 of 9 units were (IMO) substandard in various ways  including things like bathroom separate from rest of unit,   weird tiny shower stalls,  and one unit with 6 foot ceilings ;  likely a converted storage area;  odd since it was on 2nd floor.   

There’s a couple of similar square foot fully renovated comps in the high 6’s and low 7’s so maybe if an investor bought it, they will still be able to flip it for a profit.

https://www.sbsun.com/2021/03/30/tesla-to-operate-out-of-320000-square-foot-warehouse-in-san-bernardino/Plus, there have been numerous Amazon distribution centers that have opened up across the IE.

That is because you only need a 3.5% down payment to get your foot in the door. 

If you know the market, you will know what your finished product can sell for before you ever set foot in a house, then it is a matter of math: ARV less rehab, holding and closing cost less your required profit, and you have an offer price.  

After a full gut job - (new roof, windows, 2 kitchens, bathrooms, floors, electrical and plumbing) I have a 2000sq foot home with a 1200sq/ft, 2br/1ba main home and an attached 800sq/ft, 2br/1ba ADU.

It is an easy way for the government to have landlords subsidize tenants without government having to foot most the bill.

The cost per square foot is also significantly higher than any other multifamily and SFH properties that have sold in the market in the past year. 

@Dustin KubeThere are lenders out there that will do this loan with 12 months seasoning using the appraised value, and maybe sooner if you've done anything to the property to increase the value; paint, new roof, new carpets, raised rents, paved the parking lot, updated the AC systems etc...If you haven't done anything to improve the property, then the lenders will look at the deal with a side eye because you have no skin in the game and you're expecting them to foot the bill for everything.We are in a period of historically low interest rates.