Some nice to haves would be: double-entry accounting, a solid dashboard with useful performance metrics, bank account linking, and a place to show rents/upcoming lease expirations without being forced to collect it through the platform.

Solid cash flow, appreciation not to scoff at, and less risk during economic downturns.

Also you’ll need to check with local ordinance if converting to boarding house is legal and steps needed to do so (you don’t want to pay assuming those numbers to only be told you can’t do it)you hml money you can roll into your conventional loan but you’ll need to understand the scope of time from the Gc to make sure it’s feasible Thank you for your response.

Find some younger GC's/tradesmen/handymen and develop a solid relationship with them as you're absolutely going to need it moving forward over the next 10-20 years.

And the only response is its not me but it's someone you know.

If you have a solid day W2 day job and are looking to use real estate as a long term wealth building strategy, a property like this may or may not make sense.

Here are some more details...The property has a $40K+ water bill.The water company has informed us that with foreclosures, the new owners are not on the hook for past balances.so the lender/trustee is responsible for rectifying this... and the balance is so high they're delaying until they figure something out.Aside from that bill, there are no other encumbrances and we're able to get clean title with owner's title insurance.We got in the deal with cold, hard personal cash.We have a balance, which is {AuctionWinAmount - DownPayment].This balance accumulates interest until we close.so we have equitable title, but the property is not deeded to us until we close with the trustee.

Thanks for the responses!

The California law also allows the DHCS to develop identification and remediation standards for contractors, owners, and landlords and requires landlords to disclose to current and prospective tenants the presence of any known or suspected mold.http://www.nolo.com/legal-encyclopedia/mold-rentals-landlord-liability-responsibility-prevention-30230.html

Just another "spreadsheets aren't real life" reality check.Ok...Your response makes absolutely no sense, but thanks for trying.