Hey everyone, I've been thinking about getting into the arbitrage space for awhile and midterm makes sense for my market.

Grant Cardone (fraud) Brad sumrok is like lifestyles, I like Joe Fairless his website syndicationschool.com is free and well done enough then you can guide yourself and go network without paying 30-50k to join a BS program

I’m not familiar with those markets, but I would suggest finding some meetups and attending as many as you can.

While I have none in this market I have been on one realtors monthly newsletter with market analysis for over 8 years. 

No one has a "crystal ball" to time the market perfectly. 

However, if your father inherits and later transfers the home, it should qualify for a step-up in basis to fair market value, reducing future tax liability.If the goal is to tap into equity, having the trust take out a HELOC may be a better option, avoiding California Prop 19 reassessment, which could raise property taxes significantly.

Is this the only market you are looking at to invest in or are you open to out of state investing as well?

Quote from @Marc Zak: In the market where I live (San Diego), appreciation has been strong and many predict it will continue to appreciate in the long term.However, with current interest rates (6% at best) and property tax (2%), the annual cost burden is 8%.Am I correct in saying that appreciation has to be above 8% annually (plus whatever my maintenance and vacancy costs are) for me to make any money in this scenario if the property is cash flow neutral?

Study the market.

There are only 2 ways, as I see it in the current market, to get actual income/cash flow from a rental property - a paid off long term/mid term property or a well bought short term or rent by the room rental.