Legally much easier to get away with and handling utilities is much cheaper, simply connect them with second floor.

Outside of real estate, I enjoy spending quality time with family, working out, getting active outside and listening to Bigger Pockets :)Excited to learn and connect with you all!

I finally received a demand letter from a "nonprofit attorney" representing the tenant, claiming that the tenant was living in uninhabitable conditions—typical for a non-paying tenant, I guess—and now she wants to "renegotiate" the rent and keep living in the same space.She has been filing complaints with various government departments, but all the cases were minor and have been closed.

It's all done by email, you'll never talk to your rep or processor by phone and if your loan officer or processor is bad at they're job getting a loan closed can be a nightmare. 

Happy to connect with you though - most of us who have been doing this for a while know pretty much everybody already and are willing to make intro's. 

any connections in Miami?

I believe they stopped using knob and tube wiring sometime in the 40s.Roof - Of course in that amount of years, most likely the roof has been replaced at least a couple times, but this is also a big ticket items to look closely at.Plumbing - I think it was sometime in the 80s when PVC pipes were starting to be widely used.  

If you're in LA, the most logical area in my mind is Las Vegas for a lower barrier to entry, strong appreciation, much more favorable landlord/tenant laws, still close to LA, etc. 

We thought about doing a cash out refinance which would give us roughly 40,000 after closing costs.

Hey Damion, I am an agent and investor in the Phila area and would be happy to connect with you about the local market.