Shone Freeman , I'm in the same boat (by Levi Stadium).

Owning a $400k property for 2 seconds will cost $14k in excise taxes unnecessarily here.  

. ;) just ca. 20k is little high.I did live in the property for 5 years and rented for another 5, so I was hoping that HOA from the first 5 years that condo used to fix the leaking roof and elevator and garage door could be somehow counted against my base.Also what about excise tax?

If so your VA loan will be zero down and no PMI VA financing allows no "monthly MI," but the VAFF or VA funding fee is 2.15% for first use and up to 3.3% for second use is in essence still a form of MI being levied upon the borrower, just to clarify. 

Excise tax !!! 

Use memo field to describe business purpose 64700 64900 Office Supplies Expense Office supplies expense 64900 66500 Postage and Delivery Expense Postage, courier, and pickup and delivery services 66500 66700 Professional Fees Expense Payments to accounting professionals and attorneys for accounting or legal services 66700 67200 Repairs and Maintenance Expense Incidental repairs and maintenance of business assets that do not add to the value or appreciabl... 67200 67200 Repairs and Maintenance:67210 Yard Maint Expense Yard Main 67210 67200 Repairs and Maintenance:67250 1099 Maint Contractors Expense 1099 Contractor work 67250 67300 Damage Fees on move-out Expense 67300 67800 Small Tools and Equipment Expense Purchases of small tools or equipment not classified as fixed assets 67800 68000 Taxes - Property Expense Taxes paid on property owned by the business, franchise taxes, excise taxes, etc. 68000 68100 Telephone Expense Expense Telephone and long distance charges, faxing, and other fees Not equipment purchases 68100 68600 Utilities Expense Water, electricity, garbage, and other basic utilities expenses 68600 70300 Late Fees Income Other Income Income from finance charges and late fees charged 70300 73000 reimbursed tenant expenses Other Income from Tenant damages 73000 80000 Ask My Accountant Other Expense Transactions to be discussed with accountant, consultant, or tax preparer 80000 81000 mortgage+interest Other Expense 81000 83000 Tenant Damages Other Expense billable expenses, non-income 83000 90000 Estimates Non-Posting Estimates for jobs or projects.

Originally posted by @Levi Ostlund:I was wondering how I find homes, to flip or rent?  

They could decide tomorrow to levy a mandatory assessment of $2000 for roof repair.

After that, it is easy to take them to Small Claims; even if you can't garnish their wages or levy their bank account, at least you will have a Judgment against them and here in CA, that Judgment plus the eviction (Unlawful Detainer) will stay on both their court records and their credit report for 7 years.

The home was vacant but the homestead exemption was not removed and was later realized by the tax department, and penalties, late charges and interest were levied and a lien was filed.