Given that the seller is financing the deal for the 2 years and then the plan is to re-finance it with a bank, I am having difficulty producing such financial analysis.

My current plan is to stabilize this rental and aim to buy one property a year. what do you guys think of this deal and strategy?

As a PM, his team would be familiar with areas and could help underwrite the property and take care of the day to day headaches. 

Planning on living off of the positive income and then eventually on our investment.

My original plan was to find a 4 plex in california buy using fha loan, move out after the first year and generate cash flow and appreciation, but after looking at properties it became clear to me that’s not possible with todays market and interest rates.

I feel like the seller would wait and I could just buy it in cash since I do plan to refinance it anyway and pull out the equity once I’ve done some repairs/upgrades.

Rental arbitrage can be a great way to start with Airbnb if approached carefully.

So instead of waiting for the problem to compound until the lease is over, the plan is to replace the carpet immediately rather than try to muck with cat urine and get it 80% clean with various other solutions.

Unfortunately, every state and every locality has different laws and what works in one location doesn't always work in others, so you have to be very careful about the 'free' advice that is given in online forums. 

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