The Southbay to be specific based out of Gardena, CA. 

I don't have any experience with them.however since they are CA based and did not post a CA BRE license number or CFL or NMLS I suspect they do not lend on 1 to 4 units as those require those above licenses if your in CA.Also I am always a little curious about those that say they lend from 20k to 20 million LOL.. no one can make a dime on a 20k loan... so thats curious.Lastly and this is just a personal pet peeve I just don't care for companies that don't list their principals and a small bio on their web page so you can look into the owners on google and make sure they are upstanding citizens.. again maybe its a marketing thing and maybe I am all wet but thats my preference I want to see who the principals are... they should be proud to put themselves up there ( again my pet peeve LOL)Just don't sent any up front money..

On the other hand, I also wouldn't advise going for an A property based on the possibility of appreciation.

When you finance it out, most banks will base the loan on the lower of the strike price or appraised value.  

Get a quote based, at the very least, on each trade.

Just want you to know that my company is based in IL and Silicon Valley. 

When we are underwriting an acquisition, I might glance at the market CAP just as a stick-in-the-ground reference, but will base our offer on the performance of the business and the quality of the revenue streams.  

A local bank will qualify you based on debt to income ratio.  

What is your statement based on?  

Alex is right and next time don't make promises based on what another person (in your case, the handyman) promises.