Here is a duplex that has the potential to break-even, if not net a little cash, from day 1: http://www.redfin.com/CA/Los-Angeles/104-N-Harper-Ave-90048/home/7093197My question to those more experience is, say I wanted to approach my investor friend with this property, what kinds of deals could we structure such that he'd be willing to invest in acquiring the property, we both acquire interest in the property, and we each obtain some sort of gain in the long run.

Any reported gains may lead the nation; but, that ignores the fact that home values are still down from the highs of 2006 and 2007.

I'd love to gain a mentor who'd take me under their wing!

Pay attention to what they do, how they do it, when they do it, and why.When you’ve learned enough, the deals will come.

If that is what you are saying, that idea makes me nervous as it makes it tougher to track gains/losses/etc for that individual property.Also Rob, how do you know when its considered "enough" in order to start xferring to another account?

I am actively looking to purchase my first single family home to invest in and hold for a while and eventually purchase a multi-family property (as funds permits of course) but before i do i want to gain insight.

You need to check and make sure there are no quirky laws in California protecting sellers from having to sell even with a written contract.You might stand to gain some helpful knowledge by showing a real estate litigation attorney all your paperwork for review for a few hundred and they can give you realistic options and chances of being successful with your purchase if one seller fights it etc.No legal adviceP.S.

I've dealt with a few fire damaged properties and maybe I didn't pay enough attention to what my contractors were doing so please explain.

Its a wonderful site where you can gain much from others.

Then, once the idea gained some traction, the B Corp stamp of approval would enhance the ability of the entity to raise money from PRIs and the like, but would not be an advisable launching pad for the entity itself.