In the cities the government got involved in housing and low income housing was built for poor people.

Pretty normal numbers for low income duplexes in Cleveland.

I'm keeping this property for the appreciation (in a high demand area with great schools) and low interest rate for now.  

First there is no reason to buy a Townhouse "all cash" instead put 40% down and reap the benefits of an extrenly low rate, No PMI and the option to escrow.

I bought it about 9 years ago as a primary residence, which keeps my taxes low.

A total cost of 6.3Mn over 23 units equates to 274K/unit...this appears unbelievably low for San Diego...I'd want to see full development budget detailing hard, soft and financing costs as well as month by month projections showing construction and lease up cash flows.What's the 2.2Mn purchase price for?

It's a situation where if it was a springer episode each party would have to be separated after the fist fight/hair pulling contest with one getting thrown in the crowd. 

Plus funding is readily available and deals need to mature a few years before profits emerge, so why would a turn key provider not just keep a good rental property.Our inventory is so low in Milwaukee, that sellers don't have a reason to give a discount. 

@Eric Lowe Here's an article with cost segregation FAQs.

That $1400 rent actually makes sense given the low purchase prices.