I'd be more than happy to chat about the market, communities, Section 8 and any other questions you may have.Feel free to reach out anytime!

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

I bought it last year and thus far have: 1) Appealed assessed value to bring down taxes, 2) Got better (less expensive) insurance, 2) Rehabbed 3/4 units, and 3) increased rents $300-$400 per unit along the way.

Turns out the theory was right, but the decline has been even steeper.You might be able to predict whether a future market will be better or worse than the current one, but predicting how much worse or better is nearly impossible.And don't even get me started on how sponsors could be manipulating purchase cap rate, whether intentionally or unintentionally, by reporting pro-forma caps, non tax-adjusted NOI, and so on. 

I guess it’s like free advertising.  

@Tyler Speelman, A 1031 exchange solves the tax issue. 

There will be no assessment for increase in taxes or insurance so remains at $1935.

Feel free to reach out and we can schedule a call.

. - I was in a VERY similar situation here in Chicago, but I had less experience working on my own than you.I had a piece of land that I owned free and clear, but since I didn't have any development experience, most of the banks wouldn't talk to me. 

With that being said we tend to see a lot of CA buyers relocate here for the lower cost of living including lower home values, property taxes, insurance, no state income tax, gas prices etc.