I'm not going to bet on appreciation, but that doesn't mean that I want to cut myself off from it's possibility of happening.

other people's money or opm would be a good bet.

Because everything has to be done at "arms length" this could be your best bet, and an opportunity to invest outside your area.Do some research on turn-key providers, the markets that make sense, and if the entire strategy works for you.Consult with your CPA; in guessing it would be far easier to keep your accounts separate, and each one holds an entire property within (not splitting properties, in other words.)If the $50k homes aren't to your liking, you can always make more contributions until you've got enough for an $80k home...

In Cali just renting can be a competitive sport.

Probably cost you $1000 all in and you'd probably get a deal done.When people hear 1031 they think "Overpaying is better than giving a pound of flesh to the IRS, I bet I can get a great price for my apartments from this buyer."

I don't know for sure, but considering the price, age and required maintenance of properties in that area, im willing to bet you're going to have a negative return for this year and each of the next 5 years until rents cover your expenses.What is your investment goal?

Also having a few anchors in a city help for stability (e.g. capital cities, sports teams, highly reputable colleges / universities).Please add us to your buyers list. 

I would bet every landlord here feels the same.In the same logic, a lender would never consider any previous interest received as payoff of principle.

Persistence is the name of the game, your best bet is to @ least send it once a month and create a system to notate when you contacted an owner. 

This is just over the 3 year mark and I believe I'll have to pay full capital gains (appreciated over $80k from date of purchase).I'm assuming my best bet is to give him the boot and make sure I sell the property before 3.1.17.