@Shane B.Selling primary residence = potential tax savings through section 121 exclusion($250,000/$500,000 of gain excluded).Holding new multi-family unit in LLC = expenses related to the vacant unit will not be deductible if you plan to use it for yourself.An attorney can provide guidance of liability protection from owning the property in an LLC.

While you can get broad information on the state and the local markets, there are providers and professionals who will have an accurate pulse on the local market that will provide even greater detail.My personal opinion is that a good property manager will have the best insight.Local investors are great, but if they are trying to sell you something, the picture that they paint will likely be skewed in their favor.Realtors can be great, but unless they are investors or work exclusively with investors, most of their expertise will be in higher priced areas that won't generate any cash flow for investors.Insurance agents and lenders can be a good source as they look at data to better understand risks and liabilities.Property managers tend to be in the trenches and they have financial incentives that are going to be in greater alignment with your goals.

Be very specific on inclusions and exclusions for each scope.Good luck!

It was only half that before the City of LA signed an exclusive deal with one company and now negotiates "lower rates" on our behalf. 

Newspaper classifieds work well but typically results in an older demographic.  

Local newspapers reach a lot of people in your geographical area.

I understand there is an annual exclusion amount for gifts, but if you are under the lifetime unified credit amount, are you excluded from a gift tax?

Can I just tape some newspapers onto the windows? 

@Luke Holmes the space needs to be used exclusively for business.

Just to clarify: I didn't mean coal plants exclusively.