Wouldn't the equity I have play a factor in this?

We are under contract on another right now, but it's an appreciation play.

Properties north of Greenridge St. are a fair play. 

The big play for tax sale in CA is bare land in the high deserts and in the areas that have a lot of old recreational communities were lots never got built on.

Quote from @Gerald Wallace: I'm playing Devil's advocate and running your numbers through the worst-case scenario.

But there are other factors at play.

The smart play would be to build a two story wood frame structure on top of piers or concrete block in most cases. 35 feet is a pretty typical height limit in most neighborhoods, so depending on elevation you SHOULD be able to build two stories on top of the elevated foundation.

The property is a 4-unit building, in a good location for the aforementioned play.

Should be a fun project!

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