It's a very pretty unit.I've been trying to purchase a multi-family in Boyle Heights (or maybe Lincoln Heights） for a couple of months now.

We were also out $150 for our cleaning company and a couple of weeks rent.This was an overdose and the insurance  didn't cover any drug related damage but did cover damages from body in unit for several days.

There are other more affordable areas within a couple hours more or less, but would need to manage from afar.

I don't want to divulge all the details for the world to see, but basically my father left me an asset when he passed away and a couple of moves with that asset allowed us to book a huge Capital loss carryforward, which I finally got to use with this sale.

When we had the water turned on the first time, we had a couple people in the house just in case there were lots of leaks (which there were).

(Presuming that you're still within your due diligence period).If you're getting a killer deal that you don't want to walk away from, I'd be inclined to go with the @Nathan G. solution and talk with a couple of contractors.FWIW, I never want to seller to make the repairs. 

Would love to hear from someone what those financing steps looked like on their first couple investment properties with a conventional loan.If there is a blog post on this that I missed I apologize but most of the posts I've read have to do with the different finance options or steps for a hand money loan, not the steps to get a conventional loan for an investment propertyThanks in advance!

The lender didn't understand that mine and my co-signers (my mother) income were both from self-employment and after he found out a couple months after giving him all this information and being approved, we were called and told he can no longer go through with it.Needless to say, my girlfriend is very upset as this was going to be a primary residence for us to start a family (as well as a location for my personal training business).

I’ve read tons of books, thousands of posts, listened to hundreds of podcasts, went through a couple of extensive courses.

@Jake Calle there are several podcasts about house hacking a duplex for a first investment so if buy and hold interests you, I suggest listening to a couple of those for some more information.