The other factor is the market cap rate.

This area has several factories in the area that support the community. 

If you're not doing in-factory inspections via California's Housing and Community Development (HCD) process people are going to have an extremely hard time installing these in California and getting local building departments to sign off.

That way, I can generate a large amount of passive losses and offset some of my W2 income.One big factor is that the 1M of real estate bought needs to at least be "Breakeven" - meaning it doesn't negatively cashflow. 

Some will negotiate quite a bit making them reasonable, especially on factory (not scratch & dent) seconds.

@Amanda Thompson no one's brought up the point of an investor expecting a discount due to 15 units.Another potential determining factor is what Class of property/tenant are these?

There aren't any jobs unless you work in a factory or want to commute to NYC every day.   

Another factor is the Nevada restoration project currently under way in the 80905 area code.

While there are certainly things you can be doing right now, I think the most important factor is figuring out how you can make your personal life fit in with you business goals.

For vacancy rate, sure that is a factor.  I