What if they build just outside the city limits, so they are not paying city taxes?     

How bad is the insurance, how high are the property taxes, is there an Hoa, etc etc. 

Nice, but confusing.Our situation: FICA for kids turning 18 while working for us.So, the only thing we can conclude so far is that the age definitions in the tax law are wildly inconsistent and unclear.

I have a lot of colleagues with multis in Philly and all are doing well because of low taxes and high reliability, but it has its challenges.

And would this be considered "capital gains" since it's re-sold under 1-year therefore having to pay a large % of tax on the profit?

If your goal is cash flow, then your best bet may be to live in it for 2 years, and then take that tax free gain (250k single person, 500k married) and buy elsewhere. 

We then like to provide our clients with photos, tax information and comps.

Insurance is just an expense to factor into your underwriting just like property taxes.

I forgot to add that the insurance and tax is included in my mortgage of $2,005.

Be aware of tax implications: rental income is taxed in the property’s state and reported on your California return, with deductions for travel, depreciation, and expenses.