He claims his real estate strategy is playing bank, not sure how well that's working for him these days though, I'm not sure how old this advice is or if it's viable. 

Cheers!

If there is a bankruptcy, you need to be very diligent about understanding the impact that could have on a transfer of the property by the owner and what role, if any, the bankruptcy trustee will play in your proposed settling of certain debts of the debtor.

However, I'm more buying from "Learn the rules first before playing the game."

Cheers to many more deals and financial freedom in your future!

Hopefully someone more experienced can speak up on this but for me it seems as though southern California is an equity play more than cash flow.

When I bought my property in 2013 I could go lower than 25% but then PMI comes into play and that can be a deal killer.

I have sent a PM Cheers Peter 

Cheers!

He was a principal in the creation of the SAFE Act while at HUD, and in many manufactured home related issues at the CFPB until his retirement.Regulatory law is both complex and complicated when compared to other forms of law because in order to understand how it will play out, you first have to understand what the original intent of the law was when passed, rather than just what exists in writing.