Where is your "extractable" equity best used (after selling costs, expenses, etc)?

I could use that bid to extract costs for kitchen or bathrooms.

Ideally the property has positive cash flow (both units are recently rehabbed and therefore should get top of market rent) and you have extracted virtually all of your investment money.   

More specifically I am trying to chain purchase rentals by extracting the equity from the previous one.

Hot Pads will give you a rent-ratio heat-map, which is going to similar to what you're talking about.Zillow has API's you can code against to extract data that you're interested and processes it yourself, if you're inclined to do-it-yourself.

You will have little equity to extract from the sell. 

Its really tough to extract much true cash flow from that.

Also I don't know what California law is, but in Delaware we have to give 60 day notice to increase rent on a month to month policy which means he would have had ample time even before making those partial rent payments to find a new place.I also believe you are within your right to extract late fees and court cost from that deposit as well.

Hey Lauren would you be interested in a real estate software tool that extracts the property mailing address and that helps you out as an investor full spectrum?

OTOH if you have money and not so much time you can buy a list that's already extracted and sorted based on your specific criteria, write some letters, and hand it all over to a direct mail company to send out the letters.