It came down to personal feeling, and logical NUMBERS. 

On your 6 Cali props you've already got $1.1 MM of equity, which should be delivering you a minimum of $40,000 to $50,000 a year cash flow, after the mortgage, maintenance, etc. right now by this logic for perspective.  

One question I had for you is that I was wondering was whether it is logical, based on the info, that I would be putting up 40k to their 10k each and only get 1/3 equity?

the logic is you could do a real house hack and convert the house back into a duplex.  

Madeline,Get the longest term you can and pay it on a shorter amortization schedule.Here is the logic: If you take the longer term, then you have the lowest possible payment.

I just developed my own methodology based on what seemed logical to me, and wanting to ground it in some hard statistics.  

On the other side of that coin as other members have pointed out these are not areas that many of us would enjoy a 9:30pm 10pm dog walk right before bed.My personal suggestion would be based on counties rather than just areas, but I am news so my logic maybe bias based on other factors and my personal knowledge of the area.

If we sold it for $130k we would be right where we wanted.Is my logic correct. sorry for the long post... this is my first time trying to hash this out.

@J BeardI agree about your logic for the closing cost but could the same thing not be said about the down payment? 

I see land as a multi generational thing  those wanting to have kids and have college in 20 or 30 years buying low cost well positioned land could do pretty well.. takes some smarts but its just logic@Sameer Patil  I have developed a few subdivision in Clark Co Washington.. tough jurisdiction WA.. at least the populated counties.. the rural counties are pretty easy.