The deal just doesn’t have the income to comfortably support that much debt.Your report shows the cash flow after the refi dropping to around $939/mo, and that’s using pretty optimistic assumptions (5% repairs, 5% CapEx, low taxes, low insurance).

Low down payment and you ideally reduce your housing expense.

“The trick today is making sure the discount still makes sense, because the spreads aren’t what they used to be”the low hanging fruit is gone.  

@Marcos Cardenas I don't see any taxes and the insurance is WAY too low.

Entry is not low, right around 20% after down +closing and assignment. 

Just be sure to track the rental vs. personal expenses accurately.An FHA loan is a good option for first-time buyers since it offers a low down payment (as low as 3.5%) and allows you to live in the property while renting out the other units.If you’re considering investing out-of-state, it can offer better cash flow and lower property taxes compared to California.

The first one in Bonita is not in a gated community, has only a pool for amenities, allows 12 leases with 14 days minimum stay, has 3 stories, low occupant rate 41%, not in a flood zone, HOA $460/months and has a reserve of 480k, has no designated parking and has 78 units.

I started with turnkey to get into REI, but now with a little more experience under my belt, I'm considering selling my turnkeys at a loss and moving on to something with more meat on the bones.Exterior - $225- pressure wash- remove damaged/torn window screens- remove all stickers from all windows- repair hole in soffit to the right of chimneyMain Interior - $825- repair/replace damaged sheetrock- wipe down and clean all walls throughout house- wipe down and clean all doors, trim and baseboards and throughout house- touch up paint on walls- touch up paint on trim and doors- replace missing/broken blinds- replace missing/broken doorknobs- replace missing/broken light switch and outlet covers- replace missing/broken light bulbs- make sure all doors open/shut properly- make sure all windows open/close properly- replace air filter- replace batteries in the smoke detectors- remove all trash from attic- clean and paint all bars and shelves in closets- clean all AC vents and return vents- make sure all drawers and cabinets open and close properly- make sure to clean out all drawers and cabinetsLiving Room - $10- clean and paint fireplace with black high heat paintKitchen - $55- wipe down and clean all cabinets, inside and out- touch up paint on cabinets- paint under sink- tighten loose cabinet hardware- caulk sink, floor, counter- replace broken trim on ends of countertopsLaundry Room - $10- clean and paint inside washer box- clean out dryer ventHalf Bathroom - $25- wipe down and clean all cabinets, inside and out- touch up paint on cabinets- paint under sink- tighten loose cabinet hardware- caulk toilet, sink, tub, floor- tighten door handleMaster Bathroom - $75- paint cabinets inside and out- tighten loose cabinet hardware- caulk toilet, sink, tub, floor- fill in missing grout in showerHall Bathroom - $35- wipe down and clean all cabinets, inside and out- touch up paint on cabinets- paint under sink- tighten loose cabinet hardware- caulk toilet, sink, tub, floorStairs - $20- paint handrail- paint banasterGarage - $25- pressure wash garage floorLocks - $300Yard - $175- cut, edge, weedeat- trim bushes- trim up trees- clean up fencelines- haul off all trash- Remove grass from cracks in concrete- remove all loose limbs and debris- clean out flower bedsFlooring - $275- clean all carpetsCarpet Cleaning Estimate: $275Garage - $100Program two new garage door remotesPest Control - $85- pest control needed: General pest sprayTrash - $350- remove trash at the curbCleaning - $120

If you get both of those aligned, it’s still one of the better “low cash in” structures out there. 

I have had a couple applicants with Low credit scores offer advanced rent 6-12 months based on proceeds from sale of a house.