I lived on Long Island for about 5 years during college (and have spent the rest of my life in the Rochester area) and I can tell you right now: Rochester might come as a bit of a shock to you, depending on the area.

Work the projections until you feel very confident in their accuracy.If at that point the scaling of your business is still attractive, send out some preliminary feelers to see if bank financing is a viable.

I’m kind of in shock with some of the prices.

You’d be shocked by how little actual screening many PMC’s do!

You’d be shocked by how little actual screening many PMC’s do!

He then went onto their website online and researched their property management online and was shocked.

I would be shocked if profits were even 1800 mo to you after paying an investor 10% on $500k.

They missed them both and *shockingly* passed the unit.

Secondly, I don't know LA transfer tax laws but it's shocking the price you pay to enter (or exit) an investment in the Bay Area (and I think LA is not THAT different).

My preliminary information is showing that I could get a lot better return on cash flow monthly by renting a house in this manner rather than just to a regular tenant.