I see a storm coming in right now, equities and RE are too damn high.

My advice: consult a lawyer for legal insights, conduct thorough research on outstanding liens and taxes, and approach bidding with caution, considering potential hidden costs and delays.

Whether your profit is $50k or $500k doesn’t matter, neither does your outstanding loan balance.

The 1-2 bed studios perform outstanding in terms of occupancy.

You can go to court to get outstanding rent and if they don't pay, send them to collections as it will hurt their credit rating.

This implies that the value added compared to cost in he Bay Area should be outstanding.  

I am leaning a certain way on the deal and I'm curious to see if other investors align with me or not.Sales Price: 102,900, 25% down (assuming 5.625% interest rate on 30 year fixed)C Unit in C Neighborhood, increases in quality could improve rent by $100-$200 p/m, estimated.Income: 2 units, total rent is $1750 per month / $21000 per yearExpenses: PITI: $856 per month (444 mortgage, 67 insurance, 345 taxes)PM: 10% / $175 per month (I will be managing for the foreseeable future)CapEx: 10% / $175 per monthMaintenance: 8% / $140 per monthVacancy: 8% / $140 per monthWater: Average is $129 per monthFlood Insurance: (Damn AE zone) is $57 per month (backed by private insurance)All other expenses covered by tenantsThe numbers Cash Flow Per Door of $39 per month / $468 per yearCF of $78 per month / $936 per yearCOCR of 3.03%Value Add/My Questions: Rents are low for this area -- rentometer, Craigslist, and 2 BR comps indicate 2 bedrooms should be in the 1000 to 1100 range per month.

Each unit has an account with the local utility company, so the utility co. gets paid by PM & tenant portion is added to their outstanding debt.

I'm not sure if I'm missing something but I two things...1) you've done an outstanding job and 2) as a first mortgage lender, there is no way I would fund an investor that doesn't have more skin in the game.

Let the dumb money keep overpaying for those duplexes -- I personally dont want to own a duplex unless I'm in at a 1.2-1.3% -- I'd do 1% if it's new - but i'd want a damn good quality job done on the build - most of these duplexes are built "economically" and the specials are a real kick in the nuts.