I have heard interest rates are quite high there. 

Quote from @Daniel Rabinov: Hello,So I am ready to get going on flipping or BRRRR.The thing is, my local market (Los Angeles) is not a great place to start as entry points are really high for beginners and it's very hard to get good deals here.

The basement itself is an unfinished basement, as well as unlivable (5ft high floor to ceiling).

Meeting seasoned investors, brokers, lenders, and property managers face-to-face at these events is highly recommended.

Also, if you have any other recommendations of a servicing company for a beginner note investor I would highly appreciate them.

You also need a high FICO score of 720. 

We Honestly see this all the time, all over the City, and the fact that you're looking to do it in a Safer way speaks highly.

Example, if the Subject is located in a highly desirable school district where buyers pay more to be in, then that would probably be a very high desirable characteristic on a buyer's wish list.

You also make a good point about the long term picture it as well.

They said their insurance has a high deductible so they decided to split the bill between me and the next door neighbor.