you are not listing the numbers in an order that would help you visualize the whole picture. you also have to have the numbers of the potential rent increase to see the opportunity as well.a quick look shows you that there is potential and it passes the 50% rule since the big 3 (piti) is less than 50% of the revenueuse JScott's spreadsheet and put the numbers in.https://www.biggerpockets.com/files/user/JasonScot...

This area has a number dynamic and hardworking civic groups focused on revitalizing the area. 

What if there is a second mortgage)I'm not sure the legality of it but I would also drive by and do a visual inspection.  

Not sure in this market, whether historical growth can predict the future or not, dynamics change, the OC market gets more and more saturated , no much potential to grow in my opinion.Do you manage property on you own, do you have any good property management companies to recommend? 

Numbers first, visuals to verify.

I've had to evict what would be considered A+ tenants on paper (rental history & income).No one on this forum knows the dynamics behind the deal you had with your agent/friend, & in the end it doesn't really matter. 

We also found a duplex with a top floor partially renovated and move in ready, that contained a downstairs unit that needs a full cosmetic touch up, but should be move in ready in maybe 2 weeks time.I intend to visually inspect the neighborhoods and do several walkthroughs with an agent while down there next week.

Prices there tend to reflect that dynamic as there are very few owner-occupied properties along Chamberlayne (south of Azalea anyway). 

The market dynamics are vastly different and there's no real driving force in place to change them.NuLu is a huge success because of continual reinvestment in the neighborhood and a proximity to money to fuel that reinvestment.  

If you feel that you can add value with rent increases or cutting expenses, that's a different story and may change the dynamic.