There is also one big issue with your tax projection - the taxes of $280 are based on the vacant land taxes and will likely go up to ~$2000-$3000 in a year or so when the assessor catches up with you.I realize there is a 1031 involved so a real estate purchase is necessary, but you should compare your ROI to a safe yielding instrument like a 10 year T-note or AAA corporate bond yield. 

I realize it's free money just sitting there I could be investing.

We realized that the same guy was doing this for several other local investors.

oh and once you realize this you are obligated to stay with them an other three months before your contract will terminate

I realize markets come into play but I would just like a general idea.

But once you realize what a good property management software can do for you, you'll wonder how you did without it.

You do realize that California helps prop-up the US in GDP, right?

Realize most SFH and MFH has been in a Sellers market.  

Basically you can fix it now and spend the $10k or as mentioned spend the $ to jet it and then realize it will cost 50% more down the road because of rental loss. 

You realize quickly you have to walk numerous properties to learn, create a SOW, create a budget, and see if a property is even worth an offer.