I am willing to make this a full-time job where I live in my property as I rehab it and I eat and breath the rehabbing process.I would love to hear your opinions and what you would do differently or what seems realistic with the number I stated.Regards,Pat

Plane tickets, hotel rooms, etc. will eat away a (relatively) large percentage of that $10K that you've saved.  

Hi BP Friends,

I'm just starting out and I have a question about where to start. First off, I live in Los Angeles where real estate is not cheap, in fact it's currently outrageous, but it's our home, we have family, ...

I guess what I am trying to say is don't put all your eggs in the same basket.

FHA is a pretty expensive loan though, you'll save on your down payment but PMI can eat up cash flow.

I have been investing for 10 yrs part time, have built up a decent portfolio of SFH, Duplexes, Fourplexes, Senior Living Complexes and a few Commercial Buildings...the returns are solid but my maintenance and repairs are eating at me - not only money wise but activity wise (calls, complaints, etc.)Up to this point, I typically hire out to local contractors (plumber and electrician) and do the light maintenance myself, when I can along with a few individuals who help with light painting, fixtures, etc.  

Double closing is an option for sure, but if your spread is <$10K the double closing costs will eat into your profits a bit.

If not likely a big increase is coming and unlike commercial NNN where tenants pay the taxes you will eat that cost with an apartment building.Look at if it is landlord paid utilities or not.

A roof, furnace, driveway eat up almost all of your gross income for a year, nevermind paying for taxes, insurance, debt, maintenance, etc..I wrote a blog post that might help you understand the numbers.... in fact, that's part of the title.  

Using  a Roth solo 401k to invest in real estate is a very lucrative way to grow your nest egg tax free because all gains grow tax free.