Numbers are as follows: Price: 469,000 (offered 440,000)Taxes: 5500Units: 2 Unit 1: 1450Unit 2: 1850Revenue: 39,600Operating Expenses: 29,270Take Home: 10,320Cap Rate: 2.35% (seems low)ROI: 9% (seems good)

You didn't buy at a low enough price or spent too much on rehab.

One is anything under 5 units and you can still qualify for low rate FHA financing and only 3% down payment, just like if you were buying a single family home.

My initial thought is your fee is way to too low. 

They seem pretty low for yearly totals.

In order to cashflow, it seems you would need to have a strong equity position, but that would still provide pretty low rates of return. 

Unemployment is high for those over 25 which is pretty amazing to me living in Utah were the unemployment rate is very low. 

But, if you really want to avoid risks, West LA, most of the Valley, and the beach cities, are all low crime areas. 

The assessment might be way too low or way too high. 

My question is: if we redeem our personal credit card points for Lowe’s / home dept gift cards to go towards supplies/materials/cabinets etc, can we deduct that as an expense even though we used a gift card vs a credit card or cash?