Everyone on this thread has made very valid educated points.I don't suggest this for a newbie living paycheck to paycheck; but if your in a financial position to bear the weight of some repairs and vacancy out of pocket, this may be a great long term play.Although we don't typically invest upon speculation, an educated person could make an assumption So Ca will continue to increasing in value over a long term period.

I work alot, and since I'm not getting any younger, I realized that I have to do something different to attain financial freedom. 

I'm at a turning point in my life right now where I have an opportunity to really set myself up for financial success long term. 

Assuming you can financially support hiccups along the way I think it’s a solid strategy.

They also include points.Do the financials even make sense on the multi unit with a 7%+ interest rate?

@Colby Mulry Depends on your overall financial situation if you'll need the additional protection a LLC provides.Search 'LLC' and pick from the hundreds of topics that exist on this issue to read.

Value = NOI/CAP.If possible, base your numbers/offer on the T12/T24/T36 (the actual trailing 12/24/26 month financial statements) rather than any estimate or projected pro-forma they provide you - be insistent that they provide you with the T12/24/36 so that you can run numbers yourself.

Hard money lenders don't care too much about your business financials or personal financials. 

We are aiming for financial freedom in 5 years using the BRRRR strategy. 

Terrible idea, financially and legally.