At this time own 3 rentals in CA and 1 SFR (primary) in CO.

•A proven business leader with 25+ years of management and technical expertise holding multiple leadership positions within real estate, manufacturing, sales management, business development, publishing and hospitality fields.

I am currently managing my first rental that was at one time my wife's primary residence.

Would be great to clear some capital if you had a good exit strategy there, but you might be able to get going on the primary goal even faster if you could go with a low money down approach like an FHA Loan or House Hack.  

The structure seems bulletproof, but I wanted to run it by y'all to see if I'm missing something - thanks for any feedback you can offer.I bought my primary residence for $168K, and paid the mortgage down like a mad dog. 5 years later, I did a cash out refi (30 yr fixed, 3.9%) for $120K, which paid off the $34K left on the note, and used the dosh to buy an $82K rental duplex.

@Kathleen Henry Since moving to Boston, I have spent my time on the South Shore, so that is most likely where I will purchase my primary residence.

The numbers look good and based on them we are looking at positive after-debt cash flow of $289/month.Simultaneously we are looking at another property where we would be spending $7000 less in rehab costs but will cash flow for $230/month.  

Ok lots of miss information on this post as this is a CA foreclosure  not a Judicial sale like FLA or other states.1. if the first goes to sale with that equity position any money bid past the opening bid by the first will go to the second automatically.. there is no law suit in CA trustee sales its power of sale.2. the second once the foreclosure occurs both liens are removed.... from the property the second though does have the right to then sue on the note for a deficiency.. ( however Extremely rare on the west coast but it does happen).. but that just goes to the borrower not the property.3. if its a purchase money first thats being foreclosed no deficiency judgement is allowed.. its not like Texas were you can foreclose and get a judgement.  

Hello im planing on buying a house (150k) with 5% down as my primary residence.

Can't say I would always be in a position to help, but if you need "boots on the ground" to check on a property I might be able to help.