It's been so low for so long that you can effectively ignore it for now and just use the 10% minimum, as defined in the CA constitution.)You didn't mention whether you secured your loan by recording a deed-of-trust.

When the local market started really heating up, the banks dumped as many as possible.

To me, the NOI and cap rate seem low especially after you take into account a debt payment for the property.

FYI - my credit score used to be in the low 800's and I owned a $700,000 home in MN and I regularly scour myfico for help on letters, disputes, validations, etc.  

I've been tracking a couple other discussions on BP where there's some heated debate on whether capex is above or below the line so not trying to re-hash that here haha@Ned Carey Very true.

.- Sheetrock to repair some holes in the wall ($800)- Some decent new flooring (2100 square feet of wood laminate flooring installed, $5.50 per square foot = $11,500 total)- Appliances — washer, dryer, refrigerator, stove, dishwasher, water heaters, and microwave for each unit ($11,900 total)- Washer and Dryer ($1500 per unit, $3,000 total)- Refrigerator ($1300 per unit, $2,600 total)- Stove ($750 per unit, $1,500 total)- Dishwasher ($500 per unit, $1,000 total)- Water Heat ($1000 per unit, $2,000 total)- Microwave ($300 per unit, $600 total)- New kitchen cabinets and counter tops in both units ($4000 per unit, $8,000 total)- Framing of closet space for washer dryer plus shelves and door ($2,000 per unit, $4,000 total)- Bathroom remodel in both units ($9,900 total) - 2-sink cabinet / vanity ($800 per unit, $1,600 total) - 2 sinks ($400 per unit, $800 total) - Countertops ($400 per unit, $800 total) - Mirrors / Medicine Cabinets ($500 per unit, $1,000 total) - Framing and installation of small linens closet plus door ($800 per unit, $1,600 total) - New toilets ($200 per unit, $400 total) - New tubs ($1200 per unit, $2400 total) - Lighting and Fixtures ($650 per unit, $1300 total)- Exterior landscaping, some patching of the yard, trimming of trees, and a few beds out front ($2,000)- New interior doors ($900 per unit, $1,800 total)- New exterior doors ($800 per door, $1,600 total)- New mailboxes and house numbers ($500 per unit, $1,000 total)- Exterior painting (minimal with brick construction) ($1,000 total)- Interior patining ($3,000 per unit, $6,000 total)- New exterior shutters ($300 per unit, $600 total)- Interior window treatments ($300 per window, $3,000 total)On the rent side, there are few rents in the area at $1250.

They put 20% down and LTV of 80%.This is bigger stuff though 30,50 million etc.Previous year interest rates were low in the 4's so could pay 5 caps.

One side is trashed (tenants moved out and it needs a lot of cosmetic work.. thus the motivated seller and low price) the other unit is being rented for $800/mo.Thoughts?

This is because the barrier to entry is low and there is no minimum standard for competence.

Or you can just trust that, given the low interest rate on your mortgage and the length of time it'd take to realize the savings (i.e. you don't save all $76k today, you accumulate the savings over 20+ years), that $76k becomes a much smaller number in "real" dollars.