Good Afternoon BP Community,I am excited to purchase my first investment property (Duplex in Sacramento, CA) the duplex purchase price is $600,000 and there currently are tenants at the property.

I am here in southern California and homes are still selling in less than 2 weeks.The agents that price the homes correctly will get multiple offers and sell in less than 2 weeks.The agents that price the home extremely low for marketing purposes will get 20 offers on a home.I tend to price the home slightly higher than the market and see if any buyers will bite, if not we typically adjust the price down over a course of 30-60-90 days down to the price where we start to get showings and offers. 

If you invest in Oakland,CA compare to Berkeley,CA ; the risk is widely different, does not matter if you are Maradona-level of GP. 

I'm going to guess.....you moved from California? 

I'd say the majority of our members/guests are actually out of state BRRRR investors too. https://www.biggerpockets.com/forums/521/topics/1201427-re-o...Our speakers this month are actually out of state investors in (Oxnard, CA to Ohio) who were recent guests on the BP Podcast. 

It's a lesson learned, but you turned lemons into lemonade.  

I work with many investors like myself who have US tax liability - knowing I can create an act 74 project in PR where 30% of my investment is given back in tax credits makes it extremely desirable for someone like me, since running short term rentals is something I was doing for over 12 years in California with no tax benefit.

Trust and property are in California.

There is no specific time to record, at least in CA. 

Victor,I would avoid that high cost ADU and use that money to invest outside of California.