As you know its near impossible to find a good cash flowing deal in CA due to sale price, taxes and lack of inventory.Last one I closed on was over off of Germantown Road it was a great 2 unit that needed a little TLC for $160K but passed an inspection and was livable.

You filed two full year tax cycles and the numbers are similar (no greater variant than 1%) they maybe yes.Generally depreciation is added back as income BUT only the 40% portion you own not all of it.

I had constant issues with the local government and the taxes were absurd.

Other advice, especially that pertaining to tax benefits, is also highly appreciated!

@tom shallcross summarized this well in another post and just inflate your numbers up for a $665k purchase price and $2300/mo per unit for rent.Borrow 80% which is like $3700/mo for Principal, Interest, Taxes, and Insurance.

Note I strive to minimize cash flow because it gets taxed versus other RE return are easy to defer or avoid the taxes.  

Conversely, if new houses are being built frequently, older properties may struggle to maintain their value.Property taxes also play a significant role.

Note: Florida charges a hefty tax on rentals under 6 months. 

The rest, put you on near-worthless drip campaigns, don't understand calculating the offer price based upon rents - property taxes - insurance - MNT & Vacancy percentages, etc.DM @James Wise to schedule a chat with him!

Also assessment never picked up those multiple sales and the parcel was being taxed at 8 acres.