This could be higher than the current property taxes that your parents pay.Option #2 - You get added to title via QCD - quit claim deed, you wait 6 months (min required time by fannie mae for conventional cash out) , and you cash out up to 75-80% LTV max as a primary residence or as high as you feel comfortable to obtain the capital you're looking to utilize to invest with or you do a line of credit like a HELOC (home equity line of credit).The Pro's of this is that the home will not get reassessed for CA property taxes since your parents have not sold the property.You may have to account for this gift via quit claim deed - QCD but as long as your parents plan to be within the 5.49M of assets in 2017 (subject to change in the future) or annual 14k per year they should be fine (seek a tax pro).The other downside is you may not get "stepped up basis," for capital gains purposes for the whole property if they add you to title during their lifetimes (you own the property 50/50 with your parents). 

I could then sell and use the proceeds to get into something purpose-bought from the start, and already have the resources/connections to get that new property into shape quickly and efficiently.I can post my new numbers if anyone is interested.

Hi Ken, are there a few that you could recommend for the purpose of flipping?

I do not get any benefit from promoting, just sharing info with fellow investors.

It was just sort of all the same, with the exception of a few busy roads where there was a large mixture of residential and converted commercial properties (buildings that were originally purposed for residential, but now zoned commercial).I did by chance pass by one Commercial property that had a very well maintained and remodeled house with a separate converted garage.  

Sounds like a good deal on the face of it, though.Note: This information is for entertainment purposes only, and should not be taken as investment advice.  

Every driver is required by law to obey the speed limit, but the speed limit is broken all the time.I wrote up a 48 point DIY checklist for the purpose of visual inspections BEFORE you hire an inspector.

My primary purpose in investing is not cash flow, so Im willing to take a lower cash on cash return if it means a higher internal rate of return.  

She said she told the tenant we were coming by for an inspection for insurance purposes because she didn’t want her to know she is thinking of selling it to someone else.

I think there are rules about self promotion, but you asked.