Even though the rents were really low the owner really cared for the property and some of the interior units really only need a light cosmetic renovation to get it up to market rents. 6) BONUS we signed a master leaseWe signed a lease for $2200 a unit for the next four years with a company that needs military housing.

SE are older slump block style homes (say 70's or 80's) that you could get to fix up and add value, far SE are the newer areas , big master planned communities like Rita Ranch and Rancho Del Lago.

If you are serving two masters, every time you hit a wall in real estate, you will be more prone to just go back to the 9/5 and give up your dream. 

It like being a master tennant is such an odd thing they need it explained to them three times. 

Original Plan (still future): My original plan was to first house hack here in Southern California and purchase a 2Bed 2Bath condo and rent out the other master bedroom.

I really enjoyed the part of the episode about finding your niche and sticking to it until you have mastered it.With that said, I am extremely interested right now with small multi-family (2-4 unit) purchases.

So I purchased a house 2 bedroom 1 bath about 1 year ago I have very little money I was wondering if it would be a good idea to have an appraiser future project what the house will be worth if I add a master bedroom if it would be worth it I would get a personal loan and have a contractor make that master bedroom then refinance and remove my mortgage insurance and then rent out the property at a higher rate than it would have been at a two bedroom one bath take the refinanced money and use it as a down payment on my next property and pay off my personal loan does this sound like a good idea or am I way off base what are your thoughts? 

I would focus on your niche and master it before trying new stuff.PS: Have you installed a shower niche?

I've been researching the 16tech, King Common, and Riverside Park Master Plan.

The significant value add was the conversion of bedroom adjacent to another (master) bedroom.