The plan for the property would be to rent it monthly while we are not there and use it at least once a year for ourselves. 

We calculate gross income as all dollars coming in except taxes.Our clients gross revenue is the room rate (top line) expenses minused out and then they receive their net income.Net profit (or loss) would be then when they subtract debt service, property tax, insurance, utilities, etc.

Thats simple , sell the teenagers . 

The property is 20 mins from San Diego proper and 30 from the beach.

I am looking to buy my first multi-family property and want to know what's the best way to find good deals.  

What is considered a good goal for return on equity in a property?

Not every property is a good investment, not every market is a good investment.

They can tell you what types of buildings and uses the property is zoned for.

What do you do yourself in regards to this property?

Open to ideas on where to invest in first property.