It just a matter of learning the info and doing the leg work of going out finding and talking to the people you need to talk to and emplimenting what you have learned.

Quote from @Nancy Almann: thanks @Kevin Sobilo - tenants who live in another, smaller apartment want this unit for their 4-legged family. 

These are examples of how you could still be comparing apples to oranges focusing on safety and cash flow alone.

Hi Scott, consider USFR for zero risk cash, earns 5.4% holding 8 week Floating rate note US treasuriesor for mild risk cash, consider BKN - BlackRock's Muni fund, earns 5.6% tax free, which for you would be >9% tax-equivalent yield, and if rates fall, the BKN etf will rise considerably, which though will be capital gains taxable :(, It holds intermediate term Municipals that are all GO, general obligation, so they can always tax us dumb schmuck citizens to pay off the notes instead of defaulting, so low risk but not zero risk for cash. ie (Orange county '90s)Inflation has already resolved, the 3 month trailing core PCE is at 1.5%, well below FEDs 2% target, so they will likely start cutting soon as the 12 month trail falls in line, that's why Powell changed his verbiage so much last Wednesday, and FOMC minutes speak of 150 bp cuts before the end of December as their expectation per their Dot Plots, the only question remaining is consumer spending,(>60% US economy), if falling like McDonalds/Starbucks/Uber saying then unemployment will accelerate and then possible recession, then 10yr yield falls even more, and bonds values would rise like Mike just said above.

The P&L isn't going to tell you that, you need to see the Balance Sheet.Put it simply, if an investor decided to hire someone like me to start handling their books and have to gather their financial statements, I would be charging an arm and leg to put it correctly.

You don't want someone getting hurt when a chair leg breaks off.

I live in orange county Ca and we have the same issue.

This was super eye opening as someone planning to build an ADU in Orange County, CA.

And if there was any land available, it'd cost an arm and a leg.

The Government just wants to break your leg only to say they helped you get the crutches.