The resale certificate I got prior to the purchase (3 yrs ago) clearly mentions that the garage is deeded.In the past 2 months, while the unit is rented, the tenant may not have used the garage frequently and the HOA claims they can reassign the garage to other unit owners.

Listening to one of the BP podcast a guy mentioned he used it to purchase a property.

I seem to recall there was stuff like a 24 hour on site manager required at all complexes (crazy and would put most small folks out of business) and a no income source rule that would force all but the higher end rentals into Section 8 whether they even understood it or were aiming for it (classic big penalty, stigma and lawsuit for violations).....I mentioned the small time folks may not all be interested in Section 8 or set up to participate and handle that market.Oddly, the assembly's goal was more housing, better managed housing, more affordable housing.

Well the one I mentioned, I haven’t met yet I just know his CPA (who happens to be mine too).

I think your goals are attainable, but with limited capital, you will likely need a few partners as you mentioned.

@Austin Davis you mentioned that you posted the deal on the marketplace.

Well since you mentioned coffee, there is a meetup in West LA on the second Saturday of every month, hosted by @Jeff Greenberg.

If the rents you mentioned are actual current rents for the building in question then I am guessing the apts are outdated and need some work and possibly the building suffers from deferred maintenance.

However, as other people have mentioned, househacking and having neighbors below/above/in the next room will definitely take some getting used to and can strain relationships!

@Craig Bellot ThisHere is the 10% for the three categories you mentioned.