Depending on the location of the property, the numbers seem extremely thin for what can easily be found in the area. 

Any guidance will be extremely helpful.

$100k in the bank is EXTREME overkill.

It will take an extremely well researched and laid out plan from initial purchase to the Refinancing.  

I am sure you already know CA cap rates are quiet lower than a lot of other markets out there.

Hi BP,I just looked at a house in DC with @Cassidy Burns and would love your help figuring out how to buy it.It is listed for $700k, needs ~$50k of work, is 6 blocks away from metro on a quiet street.Based on online PITI calculations, it must bring in $5k in rent to stand on its own feet, which I believe it can, especially with short terms rentals like Airbnb.I have $50k to invest, and am looking to buy and hold.The issue: I may not qualify for a loan more than $500k.What do you suggest?

I would love to find a duplex but they aren't extremely common here, but I also would't mind a SFR to get my feet wet with the process.

The house were wanting to buy is a major fixer upper deal and is going to be completely as-is, And is extremely cheap (less than the assessment value on just the land) we may even just buy it with cash and finance it later to get the cash out.

So it's a new house in a quiet, predominantly home woner 50's built neighborhood.

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