This would apply to your unit.Your biggest concern with setting the rent should be the near future. 1) Your insurance is guaranteed to go up, probably dramatically.  2) You may get an insurance assessment bill to cover the CA Fair Plan losses.

Now if it was me, I would have gone over myself to initially survey the problem and at the least meet the plumber over there to assess the damage.  

County has assessed for 200k but is worth more due to the area they are building homes left and right on that road and they are selling 300k+ and up.

@Shawn Ackerman would you be generous to share your process of assessing deals?

Many months of costly vacancy, local market rent & resale deteriation, special assessments, property taxes and maintanance fees suggest a quick sale would have been the wise thing to do 2 years ago.

I would recommend having the property assessed for any damages—were the windows or doors damaged during the forced entry? 

Some areas allow sub-metering instead, which might be cheaper.I would contact a local contractor or utility company to assess your property and get quotes.

Do to the state mandates that require 100% reserves in all categories, combined with the rising cost of their neighborhood insurance policy, my strong recommendation is you find out what further anticipated spikes in association dues & if any possible special assessments are looming.

This will help you understand the qualifying requirements, key factors to consider when purchasing, and how to assess whether a property might be a good investment at first glance.

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