We'll have to add that, the style of teaching I guess you would call it, into the criteria as we're figuring this out.

Figure out the pros and cons of different styles of investing and start planning.

What I would pay...give or take:Gut rehab - $40/sfNew construction - $65/sfNot saying you'll get those prices (could be higher or lower given you probably have different contractors, different design style, different definition of mid- to high-end finishes, different material suppliers, different negotiating skills, different level of experience, etc), but that's about what I expect...

@Michael Noto I have a side by side townhouse style duplex with finished lower levels that are 1500 square feet of living space each.

Sometimes you get into neighborhoods where this doesn't work so what you're left with is same square footage +/- 10%;  same style;  same category of house (SFR, multi family 1-4;  ...)  

Each household can have a maximum of one car in the courtyard and there is plenty of free street parking available.

Househacking Billionaire Style. 

Some tenants do miss a point or two on the first run through, but as they settle in and adjust to our management style they usually catch on pretty quick.

The average household income  in the Bay Area is about a third higher than the average household income in LA.

With prices the way they are ...it is out with the old and in with the new style.