Thats where you need to be careful.

@Mark Ainley I had this for a fence that was existing prior to me buying the property but mine was a 7 foot fence (actually 6 feet with 1 foot of an add on lattice thing) and I got a permit violation. 

Looks like it’s close to 2% but be careful and KNOW what your expenses are...... like others have said rent will stay low in that area and will limit your potential for “appreciation”.

@Eddie Bridgett JrHi Eddie,Careful in Stockton.

If we refinance, I think I can get our payment down to around $400 per month, at which point the average monthly cashflow from our existing rental can take care of our primary mortgage and we'll have virtually no house payment (except for taxes and insurance).  

This will create a parcel price instead of an average price.

Dustin Maxwell , care to slide into my DMs with that info as well?

I definitely would have declined an application with that many tenants, but now they are accepting a rent increase which is pure profit on top of an already cash flowing property.

Be very careful buying land off the internet.

In addition, at that low of an offer, he likely won't return your phone calls if you want to negotiate further.