I recently purchased my first four unit building in Hermosa Beach.Due to the rain back in January, we had a massive leak.

I will give you the numbers then tell you mu strategy idea. house purchased for 415,000 in august of 2020 at a sub 4% rate but I treat it as 4% because I am not 100% sure what the rate is (I am getting into contact with realtor soon don't worry)The house could rent for 2,500 per month at minimum and I think I could get 2600-2900 but not 100% sure.It is now on the market for 600, 000 but I think I could get it to 575 since it has been up for a couple months.well 575,000 at a 7% APR is way higher than the rent so I was thinking I could do a seller financed route.

Yeah I've seen LTC being only 60 or 70% of the purchase price.

Purchase price: $169,000 SF new construction What made you interested in investing in this type of deal?

@Ramiro Rodriguez, a 1031 exchange is only for the sale and purchase of investment property as @Basit Siddiqi said. 

I will need to finance most of the purchase, but if my numbers are correct, it would still generate cash flow even with 100% financing.

Hey Julian, As others mentioned, DSCR loans will be underwritten based off of the appraised value or cost basis (purchase price + documented rehabs) depending on seasoning period when you are looking to refi.

Institutional backed money and hedge/equity funds have entered the market and spending large sums purchasing SFR needing rehab, thereby lowering supply available to wholesalers/flippers significantly.5.

I have found a lot of articles on smart water meters being installed by some city water companies but not much on wifi enabled water meters for consumer purchase. 

Currently, I have a 4-plex in Texas which I purchased in 2020 (FHA loan that is now entirely a rental property) and manage independently.