Here are the costs to address the issues uncovered by these experts: 1.Wood floor and wall in the middle unit: $44,000 + tax + $2,800 for permit, but engineer report is needed for a formal quote.2.Roof above the middle unit: $8,000 + tax + $800 for permit + ply wood;3.Sewer line outside the building (see estimate): $7,365 total;4.Sewer line inside the building (see estimate): $21,663 total;The total cost plus 10% contingency is equal to $100,000 in repairs that I cannot afford to pay and still be able to fulfill my obligations to you and to the tenants that will have to be displaced for the duration of repairs.In addition, the appraisal came in at $275,000 that is considerably below the $340,000 number.Proposed solution: You will complete all the electrical repairs and ensure all three units are brought up to current code including the outlets.You will have the stucco repaired on the exterior that was damaged by the electrical proof.

@Varinder KumarIf the cash flow from both properties covers all three mortgages (including the HELOC), and there's positive cashflow left over than you should be good.

I am looking forward to contributing to the forums, especially topics including: financial analysis and underwriting (a class I teach at UCLA), leasing commercial properties, and flipping v. renting (via my former position at American Homes 4 Rent).

So here is my case for So Cal:- Advantages of local including expertise, cost to get to property, able to self-manage if desired (typically ~10%).

I am joining BiggerPockets to obtain and further enhance my knowledge regarding Real Estate practices as well as meeting new faces that I can hope to provide assistance of my own as well as gain knowledge from them and their experiences.My expertise includes being involved in Public Relations and having worked in the Public Sector for many years.

Lots of people in RE and businesses that support RE investors there, including attorneys and CPAs who get RE. 

This is impossible where I live in nyc, so I'm wondering where is a better place to do this with $50-75k in cash.Fyi, I already have experience with out of state buy and hold (including out of state rehabs on these houses).

Gross Rent = 8832I went with $800 per month even though similar homes go for $750 this home has had upgrades to include wood floors and new carpet.I used a 8% VAC.2. 

My current hobbies include paintball, auto and tractor restoration, farming and just making things in the shop. 

Or you are not including all costs in your calculation