Starting in REI can already be a little nerve racking, so I recommend doing your first deal on the easiest mode you can to build your confidence and build your skill set.If I had to do it all over again, I'd buy a personal home with 3-5% down then repeat every 12-18 months.

How much are you cash flowing per month, and how much cash did you get back once you refied? 

If you’re okay with not making much monthly profit and focusing on long-term gains, brick could be a solid choice.

South bay price this month has reached a new all time high or up 11% between Q1 2023 to Q2 2024.

Another option is to get a quote so you at least have an idea....and if something happens in the next 12 months for example, and you are okay with the quote, you can just reach out to the person to do the job he/she quoted.

The requirement is that you live in it for 12 months if I'm not mistaken. 

This is actually my Grandfather's property that I am trying to get him a monthly cashflow since he is now in an assisted living situation.

Hi Griffin, It is not uncommon for hard money lenders to finance 90% of the purchase price and 100% of the rehab cost on a 6-12 month term, and then they'd be able to assist with long-term funding for the property once it has been rented.

@Chris Heinmiller you can export a list of recent (i.e. 18 months) land trades from Redfin, but you do have to separate the apples from the orange and the bananas, but in an area that is somewhat homogenous, you'll usually be able to see a trend, i.e. you might have two low ones at 20-30k per lot, and one or two high ones at 175k-200k/lot, but then you'll see six or seven trades in the 55-65k range, and then you've figured it out. 

I'm not aware of general restrictions by the city, but when I was looking into short-term rentals, I had a hard time finding a condo association that will allow a rental period shorter than six months.