Massive tax cuts and massive infrastructure spending are on the horizon.

I like smaller retail development projects with advance commitments and shorter time horizons to complete about 1 year or under.

However, I will say that it's normal to see a spate of price drops this time of year as the school year begins to loom on the horizon for many SFR buyers and sellers.

I appreciate the different angles from everyone, both financial and other.Biggest Pro's - pretty good ROI, bigger pool of renters, build equityCon's - more wear and tear from more people in the home, potentially a higher than ideal time horizon to make back the investmentFollow up question - the home is pretty high finish quality (granite everywhere, SS appliances, etc) would you tend to say the basement should match that, or as it's "less valued square footage" do it on more of a budget?

It is a landlord's market in SoCal now and I see nothing on the horizon that will change that.

And hat condo association has a massive reserve I know too, so no special assessments on the horizon.

Reduce the mortgage balance (if you might sell on a short time horizon), or buy the interest rate back down a notch (if you will own for a while).

Couple that crazy job growth and stability, with a real estate market that is artificially restricted through tough caps on building and NIMBYism equals a formula for a real estate market that, over a long buy and hold horizon, "goes up and to the right."

Depends on a lot of factors - your personal risk tolerance, goals, income requirements, time horizon, how many units you want to deal with, what the rest of your investment portfolio looks like etc.  

It depends if you are holding a very long time or have a 2 to 5 year exit horizon.