When we talk about investing, there are two important components.

These are only two on many great books that could help you in your journey as a real estate investor.I think you are off to a great start aligning yourself with a seasoned real estate investor to learn from from. 

You do business with a company or person as long as your business model matches theirs and your goals are aligned.

However, what changes have CA made to be align with the Federal changes to actually provide tax relief to the residents of CA?

I appreciate it.I can appreciate your response, and as I mentioned (and you acknowledged) it was JUST an EXAMPLE to convey that someone COULD have a break even property that still offers value in the long run if it aligns with their ultimate strategy. 

Your transaction has many layers of components to it that must be overcome.

I just wanted to point out that in addition to this value, you should evaluate a number of other deal components, such as the length of the investment, exit strategy, average annual return, type of a deal - value add or something else; review the sponsors themselves, verify their references if this is your first interaction with them.If you'd like to discuss it further please feel free to reach out directly.

It is because I don't want to confuse them with instructions that may not align with what the PM said.

Review the opportunity and make sure that it aligns with your goals.  

Go to www.praxcap.com, www.venturedproperties.com and others...see how they operate their businesses and if that is in alignment with your investing strategy.2.