The numbers forecasted by them come nowhere close to reality.

The trade part, is exactly that, information you should know about the trade. 

Hopefully a long time California investor will stop by here to encourage you, but in case they don't please consider attending the OC Apartment Association Trade Show March 28 9am - 3pm @ .

Though I don't think NOI in residential has any practical use in valuations or towards other financial instrument applications, it definitely is helpful to analyze synergies forecast in OPEX when you get multiple properties. 

@Jay Hinrichs has mentioned multiple times about trading lumber options in the past.henry ? 

On that playing field, everyone's costs go up just to stay in the game, only to end up in exactly the same place competitively.Better to spend the money on acquiring (or trading up to) properties with really defensible differentiators like a great view, great location, or lots of bedrooms.  

Each approach has risks and trade offs.

FTC, California DFPI Case Leads to Ban Against Operators of Mortgage Relief Scam Home Matters USA | Federal Trade CommissionOffering to buy their homes and "Save their credit" or "Save them from foreclosure" could innocently put you in the state or federal regulator's crosshairs.

I traded a positive cashflowing property to a negative for higher appreciation near the beach.  

The most accurate way to forecast premiums is to find estimated property, GL, and excess rates.