Anish I think her point was that the comps were properties in massive need of repair.. and that her property was perfect.Just like when we buy in the mid west.. and the appraiser pick up a vacant as is house that sells through a wholesaler for 20k but the turn key out fit is selling the same house on the same street for 75k... 

I personally don't like negative cash flow properties when occupied unless if you see massive appreciation within the next few years and if you have sufficent reserves to weather a storm if it comes.

and remember Buffet's Rule #1 - Don't Lose Money!

Hint: Most people would rather follow (and pay) a charismatic, great-on-video guy who is an average investor...rather than an amazing 'Warren Buffet-type' boring investor. 

Take massive action and find a better deal.There's also a reason other investors haven't scooped this one up yet.

I believe we are in an up cycle that is near the top and a cycle where renovation of older homes and new construction will continue until there is an oversupply of housing and/or interest rates increase or there is a massive layoff of the highly compensated  workers.  

California gets a lot of hate on these boards, but the returns can be massive when you consider the rapid rate of appreciation.

Was the massive loss of life taken into account when figuring out historical wages?

There is a massive difference between good property management and poor property management. 

Then sell if there is massive equity creation simply because:1.