This would apply to your unit.Your biggest concern with setting the rent should be the near future. 1) Your insurance is guaranteed to go up, probably dramatically.  2) You may get an insurance assessment bill to cover the CA Fair Plan losses.

Hi everyone,I'm a new home buyer from Bay Area and trying to get pre-approvals in place before I start making offers.

Those were in 2017.

I want to go in prepared and not just jump in because I have some money saved. 

But keep in mind room rental is a lot more management intensive so that is something you should budget for if you plan to hire a PM.

My first investment property happens to be my first home purchase, so my questions are hopefully basic for anyone experienced here.

I happen to live in AZ in the winter and MI in the summer. 

Before we go into any project we price the existing comparable set of new construction projects delivered in a trailing 12 months compared to the market or zip code averages as well.

This home has been highly operational with high rates of occupancy, bringing in anywhere from $500-$1500 a month in overage beyond our monthly expenses.

The things that give a rental a value in cashflow are benefits to the tenant in the form of living amities.