I am a big advocate of home ownership, but in the situation you are describing (not knowing how soon you would leave), it might not make the most sense to buy a condo with restrictions or potential assessments in the future.

I have heard so many stories about this people accessing properties and starting to place so many no sense violations. 

Borrowing: If you have an investment or business that makes more money than the interest rate costs you on the debt, it might make sense to get a loan to multiply your returns.

The biggest ways IMO are MLS data, multiple solutions for sellers (off market cash deal or listing), ability to rep. yourself on your own deals (saving on commission).Commission savings adds up fast when you're doing multiple deals a year.That being said, there is cost to having a license so if you're only doing a couple deals a year then it might not make as much sense.

So back to the drawing board....and yes, the financial piece has to make sense... 

And if the yard space was part of the lease I guess it makes sense to reduce the rent a little.

Quote from @Bryant Brislin: Land in the path of development that may seem a little far out, but your gut/intution and common sense from an urban planning perspective tells you that some day, whether it's in 10 years, 20 years, etc it will be a great long-term position for your family to have and hopefully sell at a signifcant multiple return compared to what you've paid for it.

When you get a deal that doesn't make a good rental, but makes sense for another investor as a flip or short-term rental, then wholesale it.Wholesaling: focus on marketing for off-market deals at huge discounts.

Check with the housing office on base.If the property is negative cash flow, then you need to decide if that still makes sense.

It is my understanding that many California markets make sense from the standpoint of future appreciation as opposed to immediate cash flow.