And now water damage to a downstairs condo unit due to poor installation of tub spouts. 

I have a 12 unit and would love to tap into some of the equity without having to do a cash back refi.   

If interest rates fall below your locked-in level and rental rates continue to climb, what is the timeframe to break even?

It might hinge on how many units are on this property.

I would suggest getting someone very familiar with the area and not think its a good deal just because its a brand new build. this is why I suggest Build to rent buyers around the country look at least at multiple unit dwellings. the majority of investors are buying single family homes where the rents don't even meet the 1% rule. we build infill triplexes in columbus that meet these ratios and are well locate in the urban core. you have to find an operator that does what you want. sorry to hear about your issues Chris 

The chart is correct, Austin has overbuilt multifamily units and it will take a few years for the supply and demand balance to return.

My name is Paul and I'm the Director of Marketing for Oakwood Management Company, the largest PM in Central Ohio and Columbus with 12K+ residential units under management. 

To the west is also popular, like Pooler, but I'm not familiar with regulations.You could do Mid-Term Rentals, 30+ day anywhere for now.You could house hack and from what I understand, there is no restriction if the unit is owner occupied in some form.

That is really the way that YOU will manage the property as opposed to how the property management company did it.Good luck with your rental unit because there are a lot of laws that affect the CA landlord and renter, including more city/ local areas.

Investment Info:Small multi-family (2-4 units) buy & hold investment.