According to the US census data Los Angeles, CA county population declined 3.5% in the last few years as you can see here:(Data from April 2020 - July 2023).But Real Estate prices went up in that period 25% according to Zillow (From $665,868 to $834,772).Rents went up 18% (From $2,380 to $2,827).How that can be?

Purchase price: $200,000 Cash invested: $5,000 Sale price: $251,000 Contributors: Peter Vekselman Partner Driven, in collaboration with Seth Choate, successfully completed a deal on E Church Street, Stockton, CA.

Your gain will be Sales price less sales expenses(Commissions, closing costs) less Adjusted basis.Your Adjusted basis will be Purchase Price plus Improvements less accumulated depreciation.Depending on how you categorized the improvements / furnishings will determine how you will calculate your gain.If you already took depreciation / expenses for the furnishings, you can't also count it towards basis to reduce your gain.Best of luck.

Again, the capital tax rate would be based on the sale price - the stepped-up value of the property when I acquired the third interest.

Once they come back to earth on pricing I am sure that will go back up. 

There's DSCR lenders that'll do 5-20 units, but they often have minimum value requirements of $50k/unit.MS can have some low priced RE, that's why the price being too low is the first thing to come to mind.

The obvious play would be for the low purchase price/cash flow. 

Purchase price: $200,000 Cash invested: $27,495 Sale price: $306,340 This project was a very interesting one!

This is often a losing proposition for the seller, unfortunately.Granted - when a house in in disrepair and would be hard to market otherwise, it is a path forward for the seller.  

I’ve been looking forward to these changes since they started working on them and even lobbied some of the council members.