If you’re going to venture into Cleveland or another similar market, my biggest recommendation would be to remember that California is a unique hub.

Depreciation and interest are two of your biggest expenses that reduce taxes, so don't forget to factor this into your numbers.Ultimately an exchange defers taxes.

Good value increases and the like.The biggest issue you want to make sure of is the building HOA/Board or whatever it might have.

You can take these comps and find the average for your property as a baseline - then look to the high end of these comps and determine if you're competing in level of finish (grade of appliances etc if this is what you see as the biggest draw to your property is)  to get a pretty good idea of what your property will rent for.The great news is that you are likely still under warranty for many of your appliances, and may have purchased a home warranty as well that could save you some cash if something happens during these first couple of years - especially as your margins might be tighter if there are loan payments being made. 

I learned that there are not many offers, may be the other buyers have the same problem as I have (just a feel good guess).My biggest problem is all nearby SFH are about 2k SQFT and not a real comp in terms of size and feature as the subject property is 5 bedroom and 4.5  bathroom.

@Michael Plante Of course the numbers are the priority first and foremost but traditionally a larger asset has better economies of scale that's why people tend to try and buy the biggest property they can afford to get.

Modular construction is great, but in my experience the biggest benefit is speed of construction (if modular company doesn't have a huge backlog) not cost savings when compared to site built.

Well the biggest downside of buying a home as a second home when it's really an investment property is that it's mortgage fraud which is a felony.

Let's start with the biggest risk of all: will the Roth concept survive?

My biggest lesson on this deal was the value of education and partnerships.