With that being said we tend to see a lot of CA buyers relocate here for the lower cost of living including lower home values, property taxes, insurance, no state income tax, gas prices etc.

I understand that I need to account for taxes, insurance, and other costs—Should I go with a LML and then do a refi later on?  

Dig deep into tax strategy, tax efficiency, etc  Learn about estate planning. 

I want to take advantage of growth if possible, but also want to minimize taxes and fees (penalties).

Same tax situation and more likely higher potential to appreciate faster.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

@Pratik as @Neil Narayan mentioned, cash flow is very challenging due to the property values, property taxes, and soft rental market.

-Management is low - you'll need at least 10% plus leasing costs - typically a month's rent for each lease-up, and sometimes a renewal fee as well-Insurance seems low-Are taxes accurate? 

Thanks for readingDavid $250,000 tax-free?

@Michael James Hamlin I'm a former tax accountant/business consultant turned fix n flipper and investor friendly agent.