Quote from @Anthony Pitruzzello: Please note in my question: "and an apartment over a large garage/workshop in a separate building (for me)." 

Over those 11 years it has been occupied for all but 3 months until this most recent turn.

The population and property appreciation have grown year over year, along with rising rents, which suggests strong demand for housing.

Outside of West Oakland, what areas would you say are likely to go up in value over time - what pockets/neighborhoods are you looking at?

I am glad we did not buy it, because it took them over a year to get through hearings with concerned neighbors to even get a plan approved and they cut them down to 13 lots.

A post on recapture.People are concerned about recapture when they cost segregate their improvements and for good reason.Recapture is real, and those deferred taxes will need to be paid.But fear not!

We model deals for IRR and MOIC and like to see 17-25% IRR and a 2x multiple over 5 years. 

Housing has become a "crisis" all over the globe. 

Lots of old houses valuing over 500k and up to 1M (local house price in my market is 167k).

. :)I'm looking to do out of state investing (I feel CA is too over priced/out of my reach at this time).