Property is fully rehabbed but I know a local investor who got a surprise mandatory $90k bill to upgrade sewer lines... so anything can happen!!

Not stressing over it, I just don't like surprises when it isn't in my favor.But reality is there will be surprises along the way even if it's my first or 100th deal I am guessing

I'm very surprised you're unable to go FHA.

I am not surprised a traditional lender would not be interested. 

I would just ask the listing agent to confirm the zoning and provide a zoning cert if available to avoid any surprises later.

Have a man to man conversation and you’ll be surprised how receptive he will be.

I really hope this gal surprises me with a response soon!

;-)   Or at the gable ends, with letters on the doors:            /  \                   /  \  / 111 \              /111\|   A  B  |           |  C  D  |If that actually translates across the interwebs, I'll be very surprised.  

Not that everyone has the same goals, some might be willing to accept close to even or no return or are confident they can keep the maintenance and capital investment #s low... as long as they're going to get that long term equity pay down... rental market will always be strong here.I did just notice an a 1%ish rule in a foreclosed andover small multi family, but with as-is foreclosed not always being so straight forward there's more work with the condition of the property, getting the prior-owner out if they're still occupying, and possible surprise liens.

The drivers for the economic downturn in the last decade don't seem to be repeating this time around.If there was a "correction" in Bay Area real estate, I would not be surprised if there was double digit decline.