Help see if we should go ahead with this triplex opportunity. 3bed/3 bath 1450 square feet.Currently in due diligence with asking price of $70,000 w/ estimated rehab costs of $80,000 including:-Asbestos Abatement-Pain...

I'm also just now looking into a SDIRA, meeting with a lawyer 7/27 & getting more details.

Most investors start with their personal residence, then buy an SFR investment property or two (maybe 2-4 unit residential) and then move onto 10-20+ units and eventually 100+ units if they stay in the game that long.I saw you messaged me about Phoenix, so I'll ask you more details there.

I did go on the website you suggested and it seems that it would be very helpful if I had the names ahead of time to see further judgement details.

Send me some more details please.

@Matthew Stanizzi I think it would be helpful here to see your deal analysis here- it also depends if you are inheriting tenant and if they have leases or they are a taw-  also if its lead certified, separate utilities, if the rents are below market you want to consider your plan on raising them over time as well 

However details matter. 

These are the details about our house.Purchase price: $855,000Current approx value: 1,100,000Current monthly mortgage payment: $3100 /monthProperty taxes ~ $11,500 /yrRents in the area for a similar house: $3200 - $3400Given the numbers, I understand that this would not qualify as a good rental property but given the crazy real estate market in the bay area we are worried we would not be able to purchase again should the market appreciate at the rate it has been in the past if we sell this house now and live in an apartment for a few years.

I knew house was worth at least 200k once renovated and my realtor confirmed the value and made a detailed list of what wanted to do and what was going to cost me. 

I would have a lawyer hash out the details.