On advice: I would recommend that all member of your partnership team spend a little bit of time on bigger pockets getting educated and listening to podcasts.

It wouldn't make sense to spend $50,000 and then rent the basement for $500 a month but it might make sense to spend $30,000 and rent it for $750 a month.

. ** I’m aware how popular painted brick is .... sorry folks not in the budget!

Boyle Heights has been on my radar for the past few months since the MFR fit my budget.

Get to know the values in your target areas so when a deal does come up you know that you can buy it for X spend Y and that it would be worth Z.

I would budget $10k each for the updates.

I hope you aren't spending a lot of money for the mentors.

Tell the buyer you’ll walk with the contractor , he doesn’t need to spend he’s precious time to walk half broken houses with contractors 😉

Depending on the amount of time you have to spend on managing the tenants and dealing with finding new qualified tenants you may want to at least compare the costs of hiring a Property Manager.

The cash flow on that end of the spectrum will win all day long but you will generally spend more on repairs, evictions and time than on an A class.