I just pass my real estate exam in California.

And there are 153 folks moving here a day based upon the latest stats.

https://www.realpage.com/analytics/high-rise-v-garden-style-examining-the-path-to-prosperity/2/

As a former real estate lawyer, with a lot of experience in regulation implementation and working with regulators, I will advise you to examine deals positioned in an OppZone very carefully.

Side I'm living in: New vinyl plank floor thru out, new LED cans in living room, every room painted, added wainscoting in living room (overkill), Ecobee T-stat w/ built in Alexa (free 4 being in the industry), fully rebuilt kitchen w/ added garbage disposal, dishwasher, new refrigerator, new wall mount microwave, new stove, all new cabinets and counters etc.

I can't quote stats but I would question if that is the reality in most cases.

I would really try to toss the Operation Agreement to your individual CPAs to examine and determine ahead of time.

I just passed the licence exam in IL and have started my search to hang my licence. 

Looking at the regular monthly inflows/outflows is nice to use as a rule of thumb guide, when doing some kind of initial back-of-the-envelope examination... a bit like the 1% rule or 50% rule.But clearly there is a lot more to it than just a simple look at inflows minus outflows.  

The Arizona Association of Realtors tracks these changes; you can see Tucson stats here and Phoenix stats here.