Thank you so much for your time Respectfully, Jordan Griggs.     

I'm running this exercise in my head and so far, I can imagine a pretty linear payoff within a certain size range.

Assuming you have a respectable FICO you can buy, with a FHA Loan (3-5% down, a 30 year amortization schedule, and a residential loan rate).

Respectfully request (via your PM) more information - and get very familiar with your HOA covenants and policies.

Most of the homes here were built in the 50's and 60's but within the last 5-7 years, there have been many tear down/new build projects in the area with very large homes (3000-4000 sqft) ranging anywhere from 500,000-1.2 million.

Hi everyone,As a fairly new investor in California looking to primarily focus on buy and hold Real Estate, I find myself looking at some potential good deals that are a bit out of my price range.  

Be respectful of the fact the money came from your wife's family and don't pressure her into doing anything.

I have done the math many different ways in order to determine what I should offer, I would greatly appreciate the BP communities opinion's.Here are the details below:8 unit, all attached, one big "box", 3500 sf totalAll are 2 bed, 1 bath units that are 425 sf each (3400 sf total) 100 sf utility room)Dishwasher, Range, Refer in each unit.Units bring in $570 to $630 a month depending on tenant locked in rate, i.e. new tenants pay more. ($4790 / month currently) 100% occ., historically 95% + occ. rateQuality: out of date,interior 15-20 years old, entire apt. unit built in 1990Maintenance: well maintained but out of date2 story,  1 acre, room to expand, slab on gradeNear high school and walking distance to hospitalGross income last year was $56,000, Actual Op.

I have done the math many different ways in order to determine what I should offer, I would greatly appreciate the BP communities opinion's.Here are the details below:8 unit, all attached, one big "box", 3500 sf totalAll are 2 bed, 1 bath units that are 425 sf each (3400 sf total) 100 sf utility room)Dishwasher, Range, Refer in each unit.Units bring in $570 to $630 a month depending on tenant locked in rate, i.e. new tenants pay more. ($4790 / month currently) 100% occ., historically 95% + occ. rateQuality: out of date,interior 15-20 years old, entire apt. unit built in 1990Maintenance: well maintained but out of date2 story, 1 acre, room to expand, slab on gradeNear high school and walking distance to hospitalGross income last year was $56,000, Actual Op.

A POF from a convential lender means you have passed the lender's credit and income criteria, and if the property appraises high enough, with no title issues, financing will be available.Since hard money lenders place much more emphasis on the property securing the loan, the POF letter ranges from significantly less reliable as compared to a letter from a conventional lender, to outright worthless (some hard money lenders provide a form and you fill in the blanks, i.e. no real approval).