In terms of the correction coming up to your market, review the historical facts about the previous correction in this market and see if you can locate a trend.

@Joseph M.Just to point out, areas of the central valley like Fresno and Bakersfield have historically always had higher unemployment rates because so much of the employment sector there is in agriculture.

Dillyn Marcus Millichap produces one of the most comprehensive reports available, all historical and fairly utd.

However, I suspect that it is a forecast forward otherwise, if using historical appreciation in San Diego, owning would out perform renting especially if calculated as though property was financed.  

@Brian Bertschi I see this is your fist post so welcome to BP.First 6-7% is not bad historically.

My partners and I (3 total including myself) run an LLC where we have historically purchased properties in full. 

I am British and have been working in the US for almost 2 years.

The home is settled like many older homes are and historically had carpet throughout on top of the old hardwood floor.

I'd like to transition into multi unit investing some day because in my head I see it as more manageable but with a PM in place maybe it doesn't matter.For my day job, I'm a software developer (Android historically).

I used 221(d)(4) to fund a historic mill reuse market-rate project some years ago.