usp=drivesdkPlease take this with a grain of salt, I'm not a qualified expert, just a dude with excel.

Find a property manager that is well respected and does the right thing, and has average rates for your market - it's OK to pay a little more for better tenant screening, performance guarantees and not having your property turn into a derelict.  16% with a large signing fee and a difference between 1st year and later fees, as well as a premium fee for a low unit count if the PM is already working in the area will not fly in upstate NY - so take all the advice here with a grain of salt and shop around where your units are. 

I'm not a RE investor yet so take my opinion with a grain of salt.

@Dillion BurnsTake the county appraisal with a grain of salt.

The expense is minimal but don't want a tenant not knowing it's their responsibility and never adding salt or maintaining it in any way.

@Danielle Perry..I'm sorry to hear about this situation, and not trying to rub salt into a wound, but it sounds like you were scammed. 

@Gaurav Mehta great question and I agree with pretty much everything @Melody E Bergloff wisely offered. https://www.novoco.com/resource-centers/opportunity-zone-resource-center/guidance/state-tax-code-conformity-personal-incomeI will add this resource, grain of salt as it is a website.

I honestly wouldn't know, but your 1.5 million can net you more leverage in other areas of California, or the US, if you are willing to put your money there.I am not a PRO at all, so take what I say with a grain of salt, but I'd rather take proceeds from those sales, take it to a good neighborhood, good schools, good tenant, and good cash flow area, and start building my RE holdings there.There's a lot to be said for those stable areas -- you won't see Bay Area appreciation but unless you were an investor 15 years ago in the Bay Area, I would imagine cash flow deals are impossible to find, even per your note "The property prices are very high and there will be barely any returns after expenses."

I'd love to chat more..this is only my second flip so take all my experience with a grain of salt! 

Take it with a grain of salt.