Hey BiggerPockets community,Steve Welty here, excited to share some insights on a new piece of legislation that could have a big impact on landlords and tenants alike in California: Assembly Bill 2216 (AB 2216).

From an investor’s perspective, it is hard to overstate the importance of professional property management and its impact on an investor’s return.

In this session, you'll learn how evolving labor trends can have a profound impact on the properties you buy, live in, and operate.

You doing a 1031 on the property has not impact on the buyer at all. 

It will not impact your net sales price.

In both scenarios, you won't really be impacted by the interest rate, unless your sole focus is not to pay a dime to the banks. 

In their favor:As homeowners and landlords they should be more reasonable and take better care of the place.Steady income with SSI and willing to hustle when they need more.They are motivated to make it work, offering more and reasonable concessions.If there is no carpet there would be less impact by dog or bed bugs, if either go worst case scenario.Not in their favor:They may be renting as a temporary situation until they can find where they really want to live long term, so they may not be a long term tenant.They are not familiar with the neighborhood, other than school district quality, so they may not be a long term tenant.What I would look at more:How long have they all lived at previous addresses?

That feels well below replacement, but again, I don't know the asset and construction quality, nor specific market and many other factors that ultimately impact value.

I believe that learning from experienced investors in this group can significantly impact the success of my first investment property.

That would really impact your bottom line.I guess you need to decide how much risk you want to take.