There is also one big issue with your tax projection - the taxes of $280 are based on the vacant land taxes and will likely go up to ~$2000-$3000 in a year or so when the assessor catches up with you.I realize there is a 1031 involved so a real estate purchase is necessary, but you should compare your ROI to a safe yielding instrument like a 10 year T-note or AAA corporate bond yield. 

One of the tradeoffs in the tax code with regards to RE is that it's meant to discourage disposing of assets; that's why the 1031 is in there, depreciation recapture, LTCG, etc.

Quote from @Henry T.: What?

The ChatGPT topics meant to start a discussion are most annoying to me. 

What's the cost (in $ and headaches and lost rent) if you don;t fix it and it fails when you have tenants? 

My local bank was going to loan me 80% LTV at 5% for 5 years with a 20 year amortization, but yesterday they called and said they could only do 80% of the original purchase amount which meant I would not even be able to pay back the hard money. 

There are similar ones for San Fran that are even worse: ;t=

Pretty sure you will be ok either way so I would t lose too much sleep over it.  

No, just meant they're using the Govt policies to profit.

This meant many people didn't buy deals in the run up to one of the fastest surges in pricing in a generation, if not ever.Regardless, the point is: there are some warning flags.