You could buy 30+ cash flowing townhomes in this area of KC for that that will generate substantially more than what you are getting right now not to mention paying down debt on the new property and depreciating it to lower your tax basis.

I am aware of the Sewage issue and i am aware that in this high interest regime it won't be a cash flow property.

I can definitely tell you there's still a lot of positive cash flowing and 1% rule deals and you get amazing appreciation.

I can't imagine painting a house for $500... even in Ga, where the cost of living is considerably lower than in Ca.

With such a great cash flowing property, I would be very resistant to selling.

Based on these numbers Cash Flow is $-252/mo 6.2% Cap and -14.2% COCIf this was a deal you were looking at, where would you want these numbers to be at to make it a win-win or would you just walk away from this opportunity? 

Therefore, my monthly payment has now gone up by $1,000 which doesn't make sense to rent out anymore, as it will be at a significant cash flow loss.

Does it take into consideration all the local regulations (cannot rent for < 30 days for example?)

And I will look for cash flow in out of state investments

To do so, you'll have several different types of tax consequences to consider: property, income, gift, etc.There are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice.