Everything looked good and I moved fast and got under contract at 250k.

The building is partially occupied by the current owner who would be moving out with the remainder of the building leased to various mom/pop tenants so this would not be a turnkey deal.

Am a NY licensed contractor who moved out here to LA county barely a year ago.. my CA contractor license is still pending.

the ARV metrics, I will like to understand that better, the market is all over the place, but I see that the best rehabs are moving fater that the cheapest houses 5.

I’m also interested in the Move Up and Lease Program 5 houses in 5 years!

I’ll be moving to DC in the fall and will be living there for around 3 years.

Start with cosmetic jobs first and then move on. 

My aim is to not only profit financially but to gain in the process some intangible assets, such as project management skills, getting to know reliable professionals (i.e. realtors, contractors, designers, etc.) for the long-term, getting acquainted with the local market's promises and pitfalls, and basically adding some entrepreneurial muscle going into my next project.My strategy is to go small: find a second-hand apartment in a good location (I don't have enough funds for a GREAT location...); no more than 60-70 m2 (that's about 650-750 f2) to, among other things, lower renovation costs; 1-2 bedrooms, street facing and with a lift (if said apartment is above the second floor); with good bones, i.e., needs only partial renovation.

We often find that tenants have not entered in maintenance concerns, didn't change filters, and even moved in pets.

I moved here from Florida after seeing the projected growth.