You might want to rethink requiring all occupants to be on the rental agreement/lease.I give the applicant a choice of whether to have them on the agreement or as an authorized occupant.  

You're looking at roughly $4500 in annual taxes for every $70k in purchase price for non-owner occupant.

I think you will want to look out for these characteristics:- High renting vs. owner-occupant population.- Low cost of pre-rehab acquisition (10-50k range).- Similar product on the market.

If the loan is with a non owner/occupant, like an investor, then you can self originate as long as the borrower does not live in the property. 

Not officially turnkey, but very close in end result, acquisition costs were about 12% below market (so a little better than most turnkey deals , 8% rental with immediate occupancy (less than a week) and no repairs of any kind required.Although the appreciation in the WSJ report cited above indicates 6 to 10% for this region of OH over the past year, I'm thinking going forward it will be closer to 3 to 5% since things appear to be cooling some, but that still works for me.I also agree that Oakland or anywhere in CA now is more about speculation at this point than anything else.

Buying lists from listsource doesn't make as much sense to me since a lot of the absentee or high equity owner occupants could have houses that are updated and in retail ready shape. 

@Michael HayworthYou have to request change on the occupation on this page.

But the devil is in the details...Some areas require a Town-provided Certificate of Occupancy (CO) before closing.

Do they count toward occupancy?

I see some units out there that have a fair number of reviews, so the occupancy is probably pretty good.If you're looking at that East Colfax area because of the price point, you could also consider Barnum/Ruby Hill/Athmar Park areas, which have some smaller SFHs in that same general price point.