case=16078...This is very specific to California and the use of an LLC in this case resulted in the attorney losing anti-deficiency protection he would have otherwise had if he had been the principal borrower on the loan.

You may have a deferred maintenance (check age or roof, AC, WaterHeaters, foundation) Congrats on long term tenants, probably rent is way below market, may small nice adjustments after taking over - like $20 per year or so to keep tenants in place.

Which on the low side would give you ~ 950+1125 =2075 in rent lets take this as your starting point Gross income for the year 24,900Now that we have an estimated rent / Gross Income lets start accounting for things...Gross Income (GI): 24,900Vacancy: -1,494 (6%)Total Gross Operating Income (GOI): 23,406Expenses...Property management: -2,490 (assuming 10%)Repairs and maintenance: -1,245 (assuming 5%)CapEx: -2,490 (assuming 10%, I generally do a calculation for this on the age of every CapEx item for a property and it is generally around 5%, but this is a duplex so I am taking a short cut and doubling it since you have two of everything except the roof)Taxes: -2,512 (From the eprop tax site for Sac)Water / Sewer / Garbage: -2,880 (Approximate, generally around 120 per month per house, again doubled for duplex, you could pass this on to the tenant potentially but accounting for it for now)Insurance:  -1,400 (this is a pure guess here)Total Expenses: -13,017 ~55.6% of GOI or 52.3% of GI Net Operating Income (NOI): 10,389Now that we have an expected NOI we need to figure out how much you can pay for this property and still make the return you are looking for. 

Hi Guys,   I came across a property in a active adult community where 80% units are for 55+ and the 20% are with no age restrictions. me and my wife are in early 30's.

Of course our perspectives will change as we age and that’s ok!

Now at my early age of 38 getting ready to run into my plan A.  

You already have a huge leg up on the rest of the world (determination to make it in real estate at such a young age)- just don't give up!  

Its also anti equity skimming laws.. if you buy a preforeclosure and sell it with in a prescribed amount of time can't recall exactly but its about 24 months.. your required to split what ever profit you made with the person you bought it from .. etc etc.I got out of that form of investing when these Senate bills were adopted as law.To my knowledge it is not federal its state specfic

The age of the house is important, because even if its a well-maintained house, its going to have an older style floorplan.  

One of the main reasons i'm looking to get into real estate investing is because you are providing your community with distressing properties and adding new occupants and continue raising value of properties in the area.One situation that really caught my attention was a investment property that happened right across the street from my home.an investor or someone bought the property for like 140k and just resold in less than year for 450k.it needed some work but nothing out of this world.roof,kitchen,flooring,A/C,paint,clean up pool.How can an individual at the age of 24 get started with no credit or money down?