As a secondary issue, I assume that you are taking enough money out of the company to have a reasonable lifestyle; what's preventing your lender from recognizing this income?  

While I recognize the housing market can be like a roller coaster, I expect to hold onto it for ten to forty years - whatever makes sense. 

Recognize San Diego rents are higher than most  (virtually all) markets).   

I was 100% looking at the upside and not truly recognizing all the management work that will be required.

@Kate Lee If you're a newer investor or a first time buyer I'd recognize there are opportunities in every market (even crazy California).

Before you tell the county that you have a duplex and you want to split the utilities, confirm that they recognize it as a duplex and it is not an illegal conversion.

I even got a call from one of the owners, I forgot her name, but there's a man and a woman that are co-owners, she didn't know I knew she was the owner, but I recognized her voice from a you-tube Q&A.

It's important to recognize the trade-offs in real estate.

Yes, the debate has been going on for some years now about when the correction would occur, but many people recognized that public market valuations had at least become untethered from underlying fundamentals.

Most states recognize that, because they recognize that agreeing to buy a house/piece of property is not the same thing as agreeing to buy a car or a used couch, both in the sheer scope of the transaction (most people will not conduct a bigger transaction than buying a house in their entire life) and in the complexity and nuances involved with the sale, such as other contract contingencies, moving truck schedulers, school relocations, etc.