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.

In this case, does the down payment that is paid by the borrower go to the lender as profit/rehab budget or are the articles and threads im reading not including the LTC in your example?

I'd be thinking back about my concerns about spending money on egress and then I'd never be able to sleep again.

Skip the LLC nonsense and spend the money on good insurance.Not legal advice, I am not a lawyer, just my opinion.