The asking rent growth rate decline of 2.7% observed over the past 12 months compares unfavorably to the long-term performance of the metro, and rent growth deceleration has been shared broadly among the Los Angeles metropolitan area's thirty-seven apartment submarkets.Competitive Inventory, Household Formations, AbsorptionThe first quarter added 6,770 net new households to the Los Angeles MSA.

@Farzan SetayeshNot a local investor, but here is a data driven look at the market conditions in McAllen TexasTwo of the most important market performance indicators, population and median home values, have been increasing steadily for the past decade   Rents have followed a similar trend The chart to the right shows median household incomes over time, which have also been increasing. 

Maybe double check comps and make sure the marketing is performing well.

You need to know someone in the L&I office or in politics who has some influence to keep your project moving.

That can be discovered by looking at performance of Airbnbs in the area.

I would think that a lot of folks who were in it 2-3 years ago were in it for the non-performers, and we know how that market is currently.I'm not currently buying because my capital is currently deployed. 

Here is a recent post of mine that addresses your questions:  Cost Segregation - The Basics (biggerpockets.com)You can perform a cost segregation anytime before you file your tax return in April, 2025. 

If it requires me to be there to make it perform for cash flow then it is a job.

Seller shall not be obligated to pay more than $_____________ (if left blank, then $200.00) for abstract continuation or title search ordered or performed by Closing Agent."

Is there a market where in general you can purchase, perform the rehab value add, and extract investment via high LTV cash out refi without having large negative cash flow?