If so, the LLC could be a good route to go to separate the expenses and income from yourself, and treat it as a separate business.2.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Don’t you want/need the SSN for a decent background check and income verification?

Properties sold to Fundamental Partners for about 12% below foreclosure value.I wonder if 12% will be enough to weather the storm.I believe these are Fed Low Income Rent controlled, I wonder how much longer that will last (with no ability to raise the rents).There looks to be quite a bit of Physical Damage to some of the brick walls, and the Trash from the pics looks to be piling up to the clouds (Citation Level).I wonder what the occupancy level is, as there seems to be lot of mailbox doors swinging in the wind.Were these guys hand picked by the forecloser to take this over, or did it go to open bid with another lender underwriting a new loan?

Planning, such as selling in a year with lower overall income or using a 1031 exchange, can help minimize this tax.

This is important to me since construction is super expensive here in CA, and I have a bunch of other 1031 properties I could sell to convert into the newly constructed property to reduce the loan burden after.  

The thing I forgot to mention is that I'm living on a small fixed income.

I work full time in a welding shop to have proof of income, so I'd be able to get my fha loan.

If I don’t get good applicants ( credit/income) by day 7 on market= price drop. 

HI John, You can always start off by house hacking meaning you live in one UNIT or ROOM and renting out the other vacant units/rooms to offset your monthly mortgage payment.There are several ways to run and make sure you are maximizing your rental income while keeping your living expense as low as possible.