In 2012 I'd have happily paid for it since it'd have been minimal work for all the upside and appreciation up til now, but I clearly missed the boat on that one, haha.

If you want to have minimal cash flow (maybe $200 to $300 a month when you move out), but want to hold on for appreciation, it would be a good play. 

If you fly mainly in the west, you'll have minimal issues.

Having a CA LLC you will have the privilege of paying an additional $800 charge on your CA return, and you may also owe another $800 fee for both the Texas and Wyoming LLCs if your activity rises to a certain minimal level.If any of these entities are multiple member LLCs they may be taxed as partnerships and its my guess you will need some professional assistance for that.

I indicated the text book BRRRR is challenging to do local.  

Within the property division there is a one time payment to him, decree indicates he gets check when I get warranty deeds.  

Indicated he prefers to pay down debt versus cash-out refi. 

Do folks have hard markers/indicators that they are watching to decide when there are great deals out there?

Figured OK, this should provide at least some indication of new affordable housing going in around town. 

I didn't use a property manager for this one, but the unit was fully refinished prior to renting it out which minimized maintenance issues.