Eric, I hope that wasn't too simple of an answer. 

As stated, currently building captial and hoping to buy an investment property (whether it be more likely a fix/flip, or a rental), within the next year.

My hope is I can gain their trust as a property manager and eventually be the one they turn to to sell later on or refer for business in the future.

If there was no appreciation, there is no need to do a 1031 exchange.I have never been a fan of condo's as you lose some control over the investment - You have no control over the monthly maintenance fees, you may not have control over who is on the board, you have no control over special assessments.I wish the investments turn out well for you!

We are hoping to find something in the north or east bay with good potential.

From what I am told, hoping the next few weeks really pick up and I can get my vacancies rented.

Still, this is a poor time in the rental season and 1 months rent can be expected as a cost of vacancy (in addition to the cost to clean and touch up - $900) .Finally and I hope this is is the last one lol - Another tenant is moving out Jan 31st and this unit also requires a full cosmetic rehab.

Good cash flow but also will hopefully see some appreciation?

I would look into any regulations that might require you to have a fence around the pool as well :)Hope that helps.

We use furnish finders, have connected with some faculty on campus at the university nearby and have even gotten in contact with hospitals nearby to hopefully get traveling nurses soon, too.