That would mean convincing everyone that a change is needed for safety issues to avoid fire hazards and to also allow for solar panels, which would be good for the environment.Sometimes HOA's forget that they are their to support the home owners and not the other way around.Do you know if the wood shake roofs are part of a historic look?

I believe both paths can lead you to the financial freedom you seek.So for historically high appreciation markets, San Diego is tough to beat (you live in San Diego) and I suspect your current Virginia RE may be better in appreciation than the high cash flow locations of the Midwest. 

Be sure to understand whether or not your home is under the Historic Society as they limit the types of materials you can use for rehabs.

It's a small historic town along the river about 15 miles northeast of downtown Pittsburgh. 

Zach The group that is selling the property is the towns historical society.

I've been looking at properties in the 50-90 unit range there and have seen some close to the university and hospitals.In your submarket research, what historical or current cap rate did you find?

Aaron McCarty if you look at the formulas/metrics in isolation then the numbers don’t mean much.The formulas/numbers is all relative, especially as everyone/business has different goals and risk tolerance.Compare the results to the alternative, example: compare the historical stock market return on blue chips to an A class area.

To over simplify, historically  any coastal states will have a greater appreciation in value then in land states, however middle states have a greater possibility of cash flow, in part due to their lower entry price. 

The entry price is high in both but that is because of outstanding historical appreciation. 

Our property is a mix-use - one of the older historic properties near central St.