I didn't think the Central Valley was much of a hot spot but the city is developing quickly and it has a long way to go much like these other cheaper cities.

J is spot on.

Jon's reply is full of wisdom and great advice.His points are spot on about your experience, realistic LTVs that are out there, and associated costs.The number one issue will be the low occupancy, the second will be your lack of experience, and the third may be the cash to close this deal.You could be looking at hundreds of thousands to close this deal.

Im in a hard spot since the market is hard to rent the place if they leave.They also want me to pay for a fire extinguisher.

There are example application that can be found online or I could even e-mail mine to you.The second method that is very helpful is to ask the potential tenant on the spot (after filling out the application) to see their current residence.

Thanks Charles they do keep them up i lived in three of them when i was teen ager and few of my family members have also rented there they have been selling some of the older ons and having newer ones placed in there respective spots and there is a whole lot of room for expansion

I would check the roof, attic space if any (look for stained boards or trusses which could indicate a previous or current leak) and a check under the house crawl space if possible for rotted joists or wiring hanging down or anything else that looks out f the ordinary.

What I expect it a slow crawl toward communism.

Any thoughts on how to have a central spot (besides renting a storage unit) where we can keep tools so that he is not on the site while I have a tool he needs & vice versa?

Want to spray this stuff in crawl spaces and basements in floor joist,,,rim joist area,sill plate areas to keep cracks and such sealed up and crawl spaces warmer,thus floors etc.