$2k pure profit is do-able but as a first time REI and I'm only assuming you are going to manage from out of state, it may be challenging.

A separate laundry room or purely storage area would not likely be an issue.

And when you move out, you'll purely cashflow $500 (hypothetical simply for this point).

So you can do Oakland open houses 2-4, then commence to drinking beer and hanging out right after.

It's a pure cash-flow play. 

Property values are much too high as a general rule for a pure investment.

Pure coincidence, but that accounts for the flood of high quality applicants.We signed a multi-year lease with the first couple who saw the place in person.  

Let's grab a coffee or drink and discuss some more.

Hi Ken,The saying goes "Best time to buy is NOW, best time to sell is NEVER" Investing purely for cashflow should be a long term playIn my opinion, you will loose money in the short term.I would look at the investment from a 5+ year type horizon.Thanks

Do you find that commercial mixed use is at a higher or lower cap rate in comparison to purely residential?