1st time landlord here and looking for some insight.I currently have a 3 bed/2 bath home up for rent in southern california.

paint touchup around home, cosmetic stuff with brick flower bed, taking down a roap swing, removal of a deck in back that is basically a warehouse pallet, possibly some lawn care, etc.

My suggestion is to pull cash for a solid downpayment and closing costs and get a purchase loan with 15-20 y term and also a quick question when you say commercial property are you referring to retail etc or 5+ units residential? 

For condos, it will cost somewhere around $175k for a nice 2 bed / 2 bath townhome/condo.

House is the nicest in neighborhood (4 bed, 3 bath, hand scraped dark wood floors on entire downstairs, white modern kitchen, greenbelt corner lot), builder downgraded after we entered neighborhood and started building 1800 sqft 1 stories with minimal upgrades, no stone etc.

Both units are are 2 bed/1 bath. 

3 bed, 1 bath, 1,800sf in East Nashville 37206Purchase: $290kAppraisal: $320kOwe: $261k

Apartment 1 is a first floor apartment—1 bed / 1 bath that currently rents for $900.

About 6 months later, in May of 2019, we purchased a beat up 3 bed, 1 bath brick home near a college in Florence, Alabama for $35,000 from a bank.

It's very expensive on that side and acquiring a retail condo may be difficult to get any cashflow.