Another option is to invest in the market instead of paying down a mortgage.

This is much lower than the costs associated with refinancing.Benefits of Mortgage RecastingLower Monthly Payments: The most immediate benefit is a reduced monthly payment, which can free up cash for other financial goals.Save on Interest: By reducing your principal balance, you’ll pay less interest over the life of the loan, potentially saving thousands of dollars.No Credit Check or Appraisal: Unlike refinancing, recasting doesn’t require a credit check, income verification, or home appraisal, making it a quicker and simpler process.Keep Your Current Interest Rate: If you have a favorable interest rate on your current loan, recasting allows you to maintain it while still lowering your payments.Drawbacks of Mortgage RecastingRequires a Lump Sum: Not everyone has the cash on hand to make a significant lump sum payment, which can make recasting inaccessible for some homeowners.Doesn’t Shorten Loan Term: While your monthly payments are lower, recasting doesn’t reduce the length of your loan.

But in general, your biggest risks are not necessarily what's the maximum rent you can get, but can you find a reliable tenant that will always pay and pay on-time.

Separate issue is only 13% of CA homeowners pay for earthquake insurance because it's so expensive and the deductible can be really high.What are your re-building costs in your area?

This is a family property for which I will be paying 3/4 of the most recent assessment value.

You may want to pay an appraiser to determine the value at the time of inheritence.

These tax professionals opted to pay to be included in this directory.

In future if you are refinancing I would sometimes look to pay a higher purchse price but have seller concessions to bring the price down on paper but not for comp purposes. 

For example, using 70-80% leverage could preserve your cash for more deals while maintaining strong returns.A blended approach might work: pay cash for smaller deals to avoid delays and borrow on more significant properties to spread risk.

You will make more from loan pay down, yes you SHOULD have some appreciation.