Hi, Full disclosure: I am a newbie at all of this.I a rental property that needs some attention.  It is currently occupied and the residents seem okay with the work being done.  I do jot want to use any of my personal...

My question starting out is where is everybody getting the funds to close the deal?

My question starting out is where is everybody getting the funds to close the deal?

Aside from the fact that the VA may not fund given your short term assignment there are significant penalties for what you *might* be doing.    

Also, depending on whether you're only investing your own funds or raising money from others, you entity structure may differ (JV versus syndication vs TIC vs something else).

I rather do the deal with my own funds then bring someone else end.   

Closed on 7/20/2018- Repeat On our way to buying an undervalued 7 unit (waiting for amended contracted to be signed by seller as of Friday) All of this was funded by a HELOC on my primary residence.

IF you have the funds to purchase a place in LA, then you can begin looking at options around you, You also have to recognize that if you purchase a place and inherit the tenants, all the downsides that come with rent control, the eviction process and of course the time and stress that can be associated with it.

You'll need a much lower priced property with some value add or larger equity spread, and also have the funds to make the payments in case it doesn't play out so smoothly, or there's delays getting renters/lease-option buyers, etc... 

Just remember that you need access to capital to keep doing deals so if you are limited on funds and tie it up in a rental property that makes you an extra few grand a year you may be limiting yourself to doing other projects.