Will keeping this property hamstring you in terms of funds to get there?

In terms of the "move-in special," the way I saw it here was that she knew she had to get into the house because she had travel plans, but instead of being upfront about it, starting the lease date a day or two earlier, she wanted it for free.

In terms of cash flow, there are duplexes and 1-4 unit properties that will give you a good return, especially in locations where new businesses are popping up, both by the beach and more inland. 

When I began I thought in terms of personal property as well, thinking if they are dumb enough to sell to me that's fine by me.

In terms of the actual location, maybe call a competing PM and get their opinion on the level of rehab and rent rate you could expect.

Is there anything else i'm missing that I need to think about in terms of this musty air? 

As a general rule if the property produces 1% of the sales price per month in terms of gross monthly rents then it should be able to qualify itself even with a 3.5% down FHA loan (includes mortgage payment, FHA monthly MI, property tax, and property insurance).From an investment perspective you'll probably want the rental income to meet or exceed 1% gross per month assuming all 4 units are rented even if you're living in one of the units so when you do move out you'll be able to have the property be self sufficient accounting for all normal maintenance, property management, capital expenses, and etc that way you dont create another job for yourself.Just keep in mind if you decide to go the FHA route that you need all four units gross monthly rents per month discounted by 25% to meet or exceed the monthly obligation.

Bakersfield is pretty business friendly (compared to the rest of CA) and there's a lot of diversification going on in terms of industry there in the past 10 years.

It's a nightmareIn this specific case, it sounds like neither you nor the GC has a skill which should have been present on the team: an architect.I know - hindsight is always 20/20.Still, I think the key skill here is to understand what is needed in a project in terms of skill sets and make sure it's all there at the start lest one end up in a similar spot.That is, don't take it out before you know how to put it back.My $0.02...David J Dachtera

hey @Andrew Linscott Im not familiar with the area but in terms of the idea of investing in a duplex and living in the other..thats a great idea to start off...either that or start off with a small fixer upper but make sure you educate yourself as much as possible before starting anythinggoodluck man