Also ( at least when I was doing things there 2000 to 2003) information that we can easily attain in the US is not nearly as easy.Defaults are very low and my experience being a lender is .. foreclosure is not nearly as cut and dry and it is here.. the courts have great latitude to adjust payments interest rates etc.. they will give the borrower a lot of leeway to try to rectify the situation...

California is pretty cut and dry about what is wear and tear vs. what the tenant breaks.

From my perspective, the MLS deals have just about dried up, but they can still be found.

Plumbing - after 2 years the traps will have all dried out which can lead to problems with critters getting in the pipes as well.

Here are some of the ways I have found to cut the costs, maybe if someone else is in the same position these ideas might helpPart of the bid was putting a dry system under the building (about 2500 sf exposed because it is built on a slope) the cost was 35k for a dry system but the city will allow us to install a fire barrier which I thought would be hardi board ($32 a sheet), but they recommended a fire rated exterior drywall that is $17 a sheet.

Soft costs include paving, piping and dry utilities.

Again, this can vary from state to state and even locality to locality, but the proper procedures for this aspect of the process tend to be spelled out fairly cut and dry in most local civil codes.Feel free to reach out with any questions.

This is with me doing all of the rotten wood repairs, all of the painting ( both inside and out ), any dry wall work , and doing all of the flooring .....

So I would be buying a house with a tenant who is bound to a lease that I won't see until the ink is dry...Not sure I like this.

On the other hand if you take out a HELOC and buy another property that is cash flow positive (including the interest of the HELOC) then go for it.I guess the question is more of a theoretical nature since my local mortgage broker is telling me that the HELOC market is all but dried up.