Below is a back of envelope calculation:Gross Revenue (Best Case) 92KExpense Margin @ 35%NOI  59.8KPurchase Price 1MCR  6%I agree with most of the comments, this doesn’t look like a good cash flow investment. 

When you assignment the purchase contract to the end buyer.

I definitely wouldn't go high end, but I would pay a bit more for solid cabinets.

I would just like to catch the leaks early so that if my tenant fails to notify me or doesn't notice, I don't have to find out on my water bill at the end of the month. 30 days of a constantly running toilet adds up.

You have to go to the zoning board to get it approved but it is typically a formality, unless the neighbors push back it should get approved.

And if you have to refinance down the road, you'll probably have to transfer the title back into your personal name for that (most conventional lenders won't allow you to close directly in an LLC). 

We'll also talk about state level efforts to push back against the ordinance.I think you do need to be a member of landlords to attend their meeting - the cost is $40 a year I think or something like that.

But one ended up on the market.

Looking forward to ending this all and getting him out of there!

I recently purchased my first four unit building in Hermosa Beach.Due to the rain back in January, we had a massive leak.