If your goal is cash flow, then your best bet may be to live in it for 2 years, and then take that tax free gain (250k single person, 500k married) and buy elsewhere. 

It’s stable cashflow and long term appreciation and tons of accelerated bonus depreciation on taxes. like most anything in real estate it’s a long term play. 

A colleague recently closed on a 12-unit property in San Antonio and shared that a 6.8% cap rate, combined with lower property taxes, made it a no-brainer.

Tax liens in MD are good for two years. 

Best decision I've ever made. 4-6% average annual appreciation rate, stable job growth, population growth, drivable to the Bay Area, close to Lake Tahoe, no state income tax, 4th lowest property taxes in the Nation, much more landlord friendly than CA, land constrained meaning limited supply, etc. 

Be aware of tax implications: rental income is taxed in the property’s state and reported on your California return, with deductions for travel, depreciation, and expenses.

We both work in finance, so we’re pretty comfortable running the numbers.Our combined W2 income is ~$350K, and I work remotely with a very flexible schedule.We’ve saved over $200K across various assets (stocks, crypto, cash), and we live frugally, saving around $100K a year after taxes.

Living in the property for two years likely allowed you to claim the capital gains exclusion... up to $250K for singles or $500K if married.

It is my understanding that people refinance and then use those funds other ways (personal living, investing, some to buy another property) as a means to minimize tax obligation. 

I prioritize appreciation, tax benefits (rental property expenses, depreciation), ability to use leverage, and passing on generational wealth with real estate.