It will be ready soon and we will ideally look at 3 units and more. 

Ideally my offer is taken and I can still increase from $150 instead of $100 :)The 30 year loan is better because it is less cash out of pocket each month. 

Ideally the same sub would also do the painting.Has anyone had good experiences recently with a drywall sub and /or painter?

I don't like it when my taxes jump up, but I deal with it. 

We don’t pocket the entire $500 by any means, we let our company pay for our health insurance, cars, gas, car insurance, lability insurance, meals, phones, internet, accounting, legal expenses, etc, etc.

Therefore an interest only loan would be ideal... problem is, I've only been able to find Jumbo IO loans but I only need a smaller loan amount under $500k.  

However, if the tenant is paying $1000/month as a monthly rent payment then advertising the gross rent of $1000 isn't technically wrong.I've ran into a lot of weird undisclosed stuff in leases like landlord supplied utilities and internet, incorrect rent amounts, landlord paid routine maintenance, etc.

Best place to find lenders is at your local REIA, NOT ON THE INTERNET!!

We do plan to self manage the property, we moved down last summer and live locally.We just love the Venice area  and it was our ideal vacation spot before we moved.

Ideally, if we go SFH I would like something that needs some rehab first to create some appreciation (I am a Gen Contractor) so I would hope to find something that CF at least 400-700 after rehab and the original 20% down.