And let's clear the air on SOLO-K's...what is the true requirement on being eligible to set up one of these for REI'ing?

Even a nice city like Corona has the Home Gardens are, which is a lot like SB, in it.I would not cross SB off, I would just be very careful when considering a property there to see if it fits your requirements as a whole.

This does not require much of any marketing money to start and to get deals closed.

Some firm handshaking followed and I was able to acquire a duplex and a single family home in foreclosure, both requiring massive renovations.I drew the design by hand on paper, I worked daily with the contractor overseeing the projects.

Our plans are to eventually grow our portfolio via acquisition of a larger apartment building in the metro area, adding management of our current units to the responsibilities of the management company that is required to manage a larger property.  

Since (the way I LO) this would require them to put down a signifcant non refubdable option deposit (NROD) they usually opt to leave.

During the purchasing negotiations, the previous owner was required to have a new roof installed.This was good or so I thought.What I didn’t foresee was that they used a less then admirable contractor.

Hi @Jose Matuk,FHA has slightly higher property requirements than conventional.

I will obviously disclose everything to the lender and make sure that my DTI still stands acceptable (and I have seen the HUD requirements to get a carry-back approved, and met them all). 

It sounds like they require 20% down.