I don't live in CA, and wasn't aware of the Prop 13 passing to the next owner if it's parent to child and both live in it as their primary.

I'm guessing the longer we do it, the more contractors we'll know and that will help. 

When does the cash flow start? 

It's all the about the location and the view.

If anyone has advice—whether it’s general tips or insights about these markets—I’d really appreciate it! 

Warning: This post contains many charts, and I did not see a way to simplify the presentation.The zip codes in this study include: 89002, 89011, 89014, 89015, 89031, 89032, 89044, 89052, 89074, 89084, 89117, 89123, 89128, 89129, 89131, 89134, 89135, 89138, 89139, 89141, 89143, 89145, 89147, 89148, 89149, 89178, and 89183.

I was considering taking out a $240K HELOC with a 10-year draw period and pulling $160K from it to build the next rental property.

In terms of renting it out - we saw the unit was offline on Zillow and other listing websites depsite the fact it was supposed to be on, and we were the ones who notified them of it.

But thanks for the tip.

Made sure to check the ledger and T12 to ensure that the tenant was qualified correctly before purchasing the property.