I’m in CO.

The city sent notices to the address on the tax records, which is a property mgmnt co.

One of the most popular for investors is absentee owners with equity (title co's won't give you equity in CA).

Hey @Andres Duran,I'm from California, but live in Denver now.

Re utilities you can also call utility co before owning and ask what is high and low over last 12 months, and avr bill, of each unit.

In markets, like Denver, most of the return has been throughappreciation (equity gain), not from cash flow.

I dont agree with this thought process never have never will.. its all situational.. or as they say in RE location location location.in markets with slow to historic negligible appreciation sure it does not take a rocket scientist to run the math that if your negative cash flow and the house is not going up its not the greatest investment your value play there is tenant is paying off the majority of the property and your getting some tax bene's if its not bare land.If we used this thought process IE the only good deals are ones that are positive cash flow day one with max leverage  80% loans then as @Russell Brazil states no one would invest in the majority of the east cost and West coast and well Denver and other select cities.. everyone would be in the Rust belt and mid west or deep south in C class properties. wealth is created for most investors with appreciation full stop.. because most investors cant buy enough property or doors to make a difference when cash flow is 200.00 a month your not going to retire on that. your going to retire on paid for nicely appreciated property.

Will an increase in market activity lead to more investing opportunities? 

only build 6 units in Denver

What he wants to do here is more of a co-living situation where you are renting out all of the rooms inside the property.