Ok, now for the numbers:Asking Price: $425,000Taxes (CA): roughly 5,500/year, less if purchased for less. (458.33/mo)Current Rents: $825/unitVacancy: Less than 5% for last two years, only one turnoverNearby similar rents: $800-$950Property Type: Garden Style, single storyProperty Class: BProperty Location: BInsurance: Roughly $150-$200/moManaging: I'd be managing myself for at least the first yearI've ran the numbers and including cost of property management(even though the first year or so I'll manage it), and accounting for capex, garbage, maintenance, and all other related costs I know that with the loan being zero down and me living there so as not bringing in one of the four rents I'll technically be negative cashflow, and I know Brandon Turner and David Green would say what the heck are you doing man!?

So I will be adding new kitchen cabinets and countertops, as well as new roof, fresh coat of paint, little bit of landscaping for the back yard.

Does the depreciation start fresh on the 240K or now $8727 annually? 

They won’t be expecting the same money as their neighbors with the shiny new kitchen and fresh paint. 

Things like paying the mortgage, insurance, utilities, lawn/gardening service, etc. 

The dairy farmer does "rotational grazing" where the cows are confined to small areas or "paddocks" and moved daily to new fresh grass daily. 

Sunnyside Yards, Looking specifically for any news/info sources folks recommend subscribing to (or if it's just their experienced realtor feeding them info, that's good to know too)Sales comps-wise, it's sitting at low $500s per sqft vs. some freshly built condos at high-$680s-$780s, which seems like a good deal.

This meeting is once a month at the Fort Worth Botanic Gardens meeting rooms.DFW REI Club – www.dfwreiclub.com – meet about 50 times per year.

And new drywall almost always has nail pops that are that much more painful to see in new, fresh finish.

In the event they do just want to leave all this stuff behind and start fresh, I don't know that I can offer them enough to be able to live anywhere nearby.