Say you purchased a house for 100k, market value is 110k, say you your total investment is 5k and it generates 5k per year.

Ill need to do medium rehab on 2 x 1/1s and a studio approx 1300 sq ft in total. kitchens/bath/floorings probably some electrical since its an older building.

It's a 4 metal building storage facility with a total of 24 storage units that rent for $600/month each.

Obviously, the lease expires in just over 30 days.We have no idea what to do at this point and are not sure how to go about researching the procedure in short order. 

What will the total income be if you move out and rent both sides?

I have two kids and a wife so it will be a sacrifice compared to what we are used to but totally worth it.

The “fastest” way to get there is obviously to use all the cash and leverage you currently have access to and get as many properties so you can start the snowball... 

Under the rules of Prop. 13, the Office of the County Assessor appraises new construction at fair market value when the improvements are complete, and the value of the new construction is added to the total assessed value of the property."

I'm looking at a portfolio deal with 3 properties (10 units total).

Insanely simple comment here, but I just want to make sure we don't miss the obvious....