there are RICH and then there are RICH... big difference one may be RICH but have TONS of debt.. another maybe RICH and have very little debt.most of the wealthiest folks I personally know have VERY LITTLE debt and own everything out right from10 million dollar apartment complex's to big estates  and other investments.. but both are rich.. as we get older most of us want to more to the paid off version of rich with not a lot of debt.. you still have the asset your cash flow is that much higher though

Longer version is that it was me and my husband who bought it in '05. 

That being said, I feel Bakersfield would be a great place for you to invest, and if you have some free time please feel free to look through my previous posts to give you my version of what I think will happen in Bakersfield in the future.

One just need read the law for a very easy understandingThe preceding sentence shall not apply to any foreign taxes described in subsection (a)(3) or to any taxes described in paragraph (1) and (2) of subsection (a) which are paid or accrued in carrying on a trade or business or an activity described in section 212.And then the reference from the above law to IRS Code 212(1) It has been paid or incurred by the taxpayer during the taxable year (i) for the production or collection of income which, if and when realized, will be required to be included in income for Federal income tax purposes, or (ii) for the management, conservation, or maintenance of property held for the production of such income, or (iii) in connection with the determination, collection, or refund of any tax; and(2) It is an ordinary and necessary expense for any of the purposes stated in subparagraph (1) of this paragraph.And for even simplified version, just look at the IRS guidance on the subject...What Deductions Can I Take as an Owner of Rental Property?

I would consider Airbnb for it, because while tenants have a short term view, airbnb clients have an extreme version of that, and considering the location, it makes a lot of sense.All that said; your point is well taken, I wouldn't have thought of looking into those factors.

I use a 2005 version of Quicken Rental Property Manager which I really like. 

That only banks really cared about operational agreements and we could tear up and submit other versions later.

Quickbooks has an Online version or a Desktop version that can be installed on your computer.Do you need an accounting software to flip houses?

Fair warning, the reader for the Audible version sounds like the Windows speech robot.

As far as the negotiations, it sounds like you are taking a good approach, I just finished the audio version of "Never Split the Difference: Negotiate as if your life depended on it" by Chris Voss.