YOu would need to add in all expenses and you can play with depreciation write offs and get to a net..The big point is If you roll those dollars to cash flow rentals in the mid west or texas. the Chance that you could buy today and sell in 3 years and NET 75k profit after all costs is slim to none you may make a tad more cash flow but the tax's will eat it up..

I find in San Diego the fourplex pickings are pretty slim (not a lot of fourplexes built for the size & population of the area) along with cap rates so low you'd be hard pressed to cashflow on them.That said, I'd be curious what places your agent has in mind and would definitely give an ear to his opinion.

. :)Problem is, the service industry folks have slim choices in housing, usually the singles and some young families double up in rentals.  

Taking them apart is like opening a time capsule.

Normally the chances of having an appraisal changed are slim without evidence, but because it's another appraisal it would have to be given some serious credit and would likely increase the cashout amount. 

A silly example in order to make a point - If you can purchase it with only having to put $1000 into it then your 15% COC return is not very difficult, but you are taking on a lot of debt/risk for very slim margins relative to the debt. 

What strategies work when wholesale inventory starts getting slim?

I wouldn't want that slim of margins in North Sac, but I'd consider it in Oak Park.

This said, just know, that they are not going to be the top brokers and there is a slim chance that they are relatively knew the the business. 

With that ductless or PTAC it would have to be slim to fit under or over the window area as it's the only spot to place one.