Hi BP community,I recently closed on my first investment property and am deciding on the optimal exit strategy; cash out refi/rental or to flip it. 

I'm a web and mobile developer, and looking to become a real estate investor in my free time.

If you wait then you will likely be stuck going for a non-optimal property or paying the taxes.I get people sometimes on exchanges with 8 to 10 days left to lock in and it definitely can get interesting to find them something.

I would love to tell you to be warm hearted and give them a desperately needed break but,your rental doesn't sound optimal for her poor health to deal with safely.They need a one level ground floor unit to keep her safe and you away from a potential lawsuit.The first time she tumbles down the stairs and gets hauled away in an ambulance you are going to hear from their attorney crying "Well you should never have rented to them you greedy slumlord!!"

Again in the above case the optimal down payment to maximize the cash flow was $0.We adjust this percentage up or down based on the effect it has on increasing or decreasing the Cash flow output to a level equal to self Financed cash flow or greater.

A web site?

It's zoned residential so according to the county I believe I can put one there.Where I'm confused is that the tax assessor web site lists the lot as "deed acreage:0, calculated acreage:0, land units:1The home is listed on the assessor website as in a subdivision so I'm thinking that might be why?

Even forclosures are expensive in Web. so your equity amount on start up is low (I bought thru HUD, had 10% equity after closing and still had 3K in repairs w/ me as the contractor but I was looking at a long term investment and had not started my business education).  

The Survey, taken by California's commercial real estate industry leaders in December 2015, indicates continued optimism with only a smattering of caution with respect to the continuation of the current run.

Love the web site!