Another option would be to save up that $560 or $670 per month, preferably in an interest-bearing account. 

@Jordan Futch nothing really cash flows in California, unless you would like to try your hand at AirBnb in Big Bear or other areas like that. 

Stay with your sister till you get your bearings.

That's like going bear hunting and waiting until the bear starts charging you before asking if anyone has a gun!

It sounds the number of years I rented the original property does not have any bearing on calculating %TaxFreeGain on the 2nd property.  

What questions are going to bear the most fruit in this interview?

The amount the seller wants has no bearing whatsoever on how much money you should offer, if you want the property and are confident in your numbers.What are your numbers?

Several moving parts and complex (at least for me), so bear with me:Brother (J) owns home where mother (H) lives, has a cheap mortgage, but would like to extract his equity for other investments.

Hey guys, bear with me, currently starting up my first STR property.I recently purchased a property to open as my first air bnb property.

Would love to hear your thoughts on the following transaction(s).The goals: To rehabilitate a 12 unit multifamily in central Maine (fully occupied ~$45K net/year) I plan to hold, currently appraises for $400K, no mortgage/own outrightMunicipality is interested in lending up to $250k for rehabDecent credit, several banks said "easy" to $200k mortgage To refinance the debt/mortgages/liens (~$100K+) of a dying family member (Bob) I am not completely aware of all of Bob's debts/legal issues and they will be numerous (cursory title exams reveal debt comes to roughly 1/10th of conservative valuation of assets)Several properties belonging to Bob are income bearing, or could be income bearing (max gross of ~$4,400/mo within 6 months)Place the remaining assets (after debt payoff) into a trust for the heirs to split.I several options/ways to go about doing something like this.