Seems to me that area is massively over build or going to be overbuilt for the foreseeable future..

You are extremely fortunate to see huge equity gains, but you cannot foresee the future 10 years from now.

The investment is with Paramount Partners.  

That is the thing that will eventually get you over the hump, not talking to realtors who, for the most part, don't know anything about working with investors and have heard the "once I get this first property, I am going to keep going" dialogue a million times.If you want to market yourself, the best thing to do is to walk a five-block radius that you really want to buy in.

You should be within $50- $100 of market rents for long-term tenants with taking into account the condition of the property.

CA acts in a neglectful arrogant manner, assume historical greatness will automatically deliver future greatness.

The meters, bills, old permits (should be available through the city planning), the appraisals, etc.Most appraisers check with the city on permits and non-conforming use while doing their research. 

Cap rate is a good metric.... as long as you know if all the expenses are in the scenarios.

So, any investments are on your personal taxes the same as if the property is owned by you personally.

Thanks for the insight!