@Ryan Kelly mainly north austin close to Apple campus and new water park in round rock

It was a well priced asset in a good area that offered a large value add play through operational efficiencies, thus minimizing the risk that's associated with physical value adds.

They claim even after running multiple rinse cycle, the water is running brown.

.- Cap Rate (Capitalization Rate) is a measure of how efficient a property generates NOI in relation to the property's cost/value.

My water/sewer usually runs about 225 for our lower unit of a duplex.

There could be involuntary liens such as code violations, water and other utilities that survive foreclosure  and are not necessarily recorded 

On both the upstairs and the downstairs I finished the remodel the day before tenants moved in, definitely stressful but talk about efficient margins!

My goal is to find the best/most efficient way to be able to fund my next multi-family.Which idea do you think would work best?

Still have to account for appliances and hot water heater 12 years,hvac 20 year, bath and kitchen remodel 20 years,etc.

Prop. 15 though seems quite necessary to me although maybe also not the best solution.The state has two related problems that need to be solved:1) California has developed unsustainably for decades (often through federal government largesse), overbuilding public infrastructure such as highways and sewer/water lines.