He said that he has to go back a number of years to determine any losses that were not allowed for NJ that can be added to basis...He stated that NJ does not allow net losses on rental properties ; however, those losses can get added to NJ basis so he said he has to go back and review all my losses over time.  

They sold two appreciated duplexes in Dallas and we turned them into 8 units in Mesa, AZ with higher cash-flow, and much closer proximity to Southern California.I'll add to your Phoenix "pros" list:1) Landlord friendly rental rules2) Easy evictions in < 30 days3) Rents are rising faster (on a % basis) than many other metro areas4) Low property taxes (and the property taxes don't sky rocket after a purchase as they do in CA)5) Very low vacancy and extremely high tenant demand.

Land has been for sale 100 years with no for sale sign and you drive by it every day.

I checked all state basis only CA can sustain high growth in home price. 2024 would be fun. 

That's a basis of probabilities, timing, and expectations.

Dollars outweigh calls every day of the week.To me, what appears to be the problem isn't setting the goals, or choosing the goals, but having a plan of how to get there. 

It's super frustrating when you work with investors every day, and the common refrain is I want to buy a passive turnkey property, but it must cash flow.

As the contractor we are typically on the hook for work performed and then bill on a monthly basis for work completed to date.

This could be a great way to get started as you'll be at the property everyday and by living in the property not only will you be there firsthand to oversee the work being done, but you may also find new potential issues while living there.If you're looking to do this, I'd recommend a 203k loan to purchase the property and get some rehab funds. you'll just need to live in the property for a year before being able to lease it out to a tenant.

The sun is usually shining every day and buyers are actively looking in the months of January and February unlike some markets where they wait until the spring.