It's 3 beds an 2 baths at 1500 square foot. 

If you want to get your foot in the door.

I had Little to No Money & No Experience but a few REI Boot Camps- basically No Experience...To say I've had a lot of Failures during my 14 years of being involved in studying REI is an Understatement...If I was starting all over again, and my objective is to be able to build a robust REI Biz that can allow me to rehab 6-12 homes a year, wholesale 2-3 properties per month, and build a rental portfolio...I would first focus on getting good at one objective first...Generally most people start out wholesaling because it doesn't require the money or experience rehabbing or landlording requires...I would start with Wholesaling...go find 5-10 very good rehabbers and find out their Criteria for a Great Deal...Commit to building Value for them and ultimately a great relationship.With this you will already have buyers lined up, you know what areas to look for properties in, and you can research public record and see what they are paying for properties on the acquisition(and also ask them, but keep them honest by researching public record)...At this point become the best wholesaler to these rehabbers...you will learn a lot just in this process alone...How to evaluate Comps, Repair Values, Neighborhoods, etc...Which a great wholesaler will know how to do...It will make your deals easier to sell...Ultimately I would see which one of these Rehabber will be open to the idea of partnering/mentoring me on how to get into that arena...They may even allow you to follow the progress of their deals...Every deal has its surprises and over the course of 10-20 deals you will get a real life idea of what those surprises are, and even understand the "reason why" you calculate certain contingencies into deals and also what are the most costly mistakes or repairs to look for and avoid on deals...The value of this Experience will accelerate your learning curve...In my experience one mistake for a beginner can cost you a ton of money and even put you out of the rehab business.There is no way you can learn all the mistakes you must avoid by reading a book or taking a 3-day training program.

It seems you're looking to get your foot in the door with little credit/income.

I recently purchased my first apartment building located at the foot of the Berkeley Hills.

At some point you will be more on equal footing and you might learn a lot from that person.

If this is the only way you can get your foot in the door to rentals Ve'Ron, it might be worth it to you.

I use $1,000 per year for maintenance and $.67 per square foot for cap ex. 

I have had quiet the time still finding qualified painters that weren't going for $3 to $4/square foot (15k to 17k on 5000 home)  While I keep ending up doing all the work myself (and all the fun permits to go with half of them), it would be nice to find a few painters that ...1.

Must've blown them out with gusto.Our grossest story, though, is having to write a letter to a tenant asking him to stop vomiting out of his front door each morning, we were getting neighbor complaints.Or finding a bedroom that had dried out dog poo all over it - a 10x10 foot litter box.