Sounds like perhaps the bungalow does not have an occupancy permit?  

So here's how it played out in my head.1) Get a loan from a Hard Money Lender for $120k.2) Find five properties for $100k or less.3) Use $100k of the $120k loan to make the down payments and keep the other $20k in reserve to cover closing costs and any minor repairs needed for the properties. 4) Get the properties rented out and within six months to a year, refinance the properties to pay off the original lender.Now, on paper, this idea sounded really good and I assumed it would be feasible. 

All the Gurus want to make it sound easy, no risk and can do with no money.

It sounds like at the end of the term, the loan is callable, and based on the performance and what the market looks like, can be refinanced or will have to be sold or paid in full.

Did every major component and appliance get replaced during the latest renovation? 

It sounds like a complete screw up.

It sounds like a complete screw up.

@Sam Ojo this sounds like a broken condo deal—which is a situation where an apartment complex has a condo map and some units were sold but not the rest.

I've had a structural engineer look it over and it looks like the main beam may need to be replaced as well as a large number of joists.

@Nicole ChangIt’s easy to feel left out with all this OOS hype, but it sounds like you’ve already got an idea of what you’d like to pursue here in the Bay Area, I wouldn‘t get distracted.I house hack in Oakland in a decent neighborhood that breaks even while I’m there and cashflows well when I move into the next one.