Whoops)Note to self: Study up on California Chapter 16: Land Ownership and Notice Requirements 4 Types of Estates:Fee Estates: Provides absolute ownership for an infinite period of time, subject to government laws restricting land use.

Otherwise, you'll have no return until the market improves and you can sell or refi and pull cash out.There are infinite strategies in real estate and I'm  convince decent returns can be generated in every market, however I'm a conservative investor and though I own investments locally, I've chosen not to invest a large amount of my capital in old properties purely for appreciation which may or may not be realized. i generate 12%+ of my return from cash flow alone and do this in all markets and all cycles...which protects me from down markets.I'm done posting on this topic.Feel free to reach out to me if you have specific questions.  

The stucco boxes are almost 100% off the shelf Home Depot rehabs.

-If it was me, I'd probably do a nothing down deal to cash-flow $43/unit, as it is an infinite cash on cash return.

Every case is different, but the present value of the new depreciation will likely offset the tax benefit of infinite tax deferral versus 30-year tax deferral.If inflation is running at 2.5%, the real cost of the future tax obligation 30 years out is about 50% of what it is today.

Not sure if having them off the shelf is required, but uou should be able to get a normal size kitchen quite a bit cheaper.

(It didn't have updated smoke and CO2 detectors which were needed to pass inspection, some doorknobs, a closet shelf/pole, and painting a door.)The US does have some great opportunities. 

You don't want to set warm crockery directly onto a cold refrigerator shelf.

looks good, my one comment would be to add a shelf or two in the kitchen in the areas where there are no upper cabinets.

I am still interested to hear what infinite options there are to debt.