Which does exist just a lot harder to find.

They exist for everyone's protection.  

Did not even realize that cash flowing markets existed until recently.

If you think long term you'd really like to buy more investment properties then converting an existing primary residence into a rental is a great way to do it.

You can always compare it to you existing rent and see if it is more or less - if less than great!

Hi, I have been working on a deal for a few weeks and finally got the seller financing insurance requirements and went to the existing agent and also my agent.  

I live in Southern California where basements are rare-- if not, non-existent.

but that is crazy, I had so many wholesalers contacting me but their buyers are looking for 10% cap rate... doesn't exist in Long Beach, and I guess wholesalers didn't do their homework and they will search over 1000 deals to find one...  

Some feedback:Your estimated life appears to be for a new property and you may want to adjust for the actual remaining life of the existing items.If you have not included the following items in repairs and maintenance, you may want to include them here: appliances, cabinets, counter tops, lighting, tubs/shower, windows, doors, gutters and porches/decks.Interior paint - 6 years seems long...$2500 seems high...not sure on sizeFlooring seems high - not sure on size...regional flooring companies in my market are very affordable and reliablePlumbing and electrical - I don't have plans to re-plumb or re-wire units every 20-30 years but do include estimated cap ex for fixtures.Off topic but consider LVT rather than laminate wood...it's very durable and can get wet.  

The investor exists in the relationship to earn a return.