I didn't like the rest of it though where you essentially negotiated with her for an alternative way to lower her rent.  

My point was that these alternate income sources would allow more free time to work on RE.  

So you usually have to find an alternative.

Alternatively, the bank gets a chance at a higher refi earlier and more than once.

Cash for keys may be an alternative.  

One alternative strategy we have used to get the pricing down is to use several different insurance carriers for the different lines of coverage. 

The conventional financing would also limit the capital available for rehab projects on the properties.While not a “nubie” to real estate, I am one when it comes to alternative forms of funding real estate projects.

Alternatively, there is the hard money lender in the event my private money friends don’t.  

Alternately, if I acquire this as a sub2, I was thinking of exiting as a Lease-option OR researching and analyzing the AirBnB approach...As you can see, the mortgage balance and Heloc balance in the picture make this tight to run as a flip, along with an estimated rehab cost of about $40k.Rental rates vary, as I'm seeing on propstream that rents can go for about $1,855.

Potentially higher returns (though maybe not considering house hacking as an alternative)Cons of buying out of state:All the difficulties of purchasing / managing an investment property at a distance--especially as a first time investorHaving property management fees (and maybe turnkey costs) eat away at the returnMy main question is: Should I even consider buying a duplex in LA with our (potentially) short time horizon?