Starting locally with multifamily and house flipping is a solid plan.

From there, it requires the ability to conduct underwriting the highest and best use of a planned project, which requires a pro forma built by the user or acquired from a competent 3rd party. 

We plan to remove them all to protect from tax increases on our current primary, but I am afraid that now that the other properties won't have homesteads, we may see skyrocketing tax bills and it will eat into already small cash flow from rental income.Does anyone have advice for how to handle this situation other than just increasing rent?

If you are looking for property in San Diego that is going to have good initial cash flow, you are going to either have to identify an obscure value add or expect to spend a lot of time and effort to find good off market purchase (most off market offers are not great). 

I love where you mind is at and how organized your post/plan is.

(Go ahead and spend the few extra dollars for the quieter fan; then the tenant won’t notice it as much.)

Especially if they plan to buy a more expensive one.

If the tenant has a reasonable explanation and a solid plan on how to recover we will work with them.You are asking the right question: how are you planning to pay double rent next month?

A cost segregation study is a strategic tax planning tool that separates the assets that have a shorter useful life and can be depreciated over 5, 7 and 15 years from the residential rental property or nonresidential real property that are depreciated over 27.5 and 39 years, respectively.

Many other projects have reduced or suspended planned CF distributions and I've also had a few capital calls in which I did participate since the business case still made sense (the MF in Florida had a capital call to finish construction and get through stabilization and it still returned the 32% IRR).I expect almost all of the deals to be OK, just later exits than originally projected.I am very concerned about one project and have already written it off in my head.