Hey, @Dionne Ladson analyzing rehab costs can indeed be tricky, especially without prior rapport with contractors.

Just trying to understand tax implications. 

It was not a 1031 exchange, so we are now calculating our taxes.

Taxes would be around $500/year for the land only.  

For the District of Columbia, is there a template or any advice on what works to challenge property tax assessment increases?

Also note, the military and all government employees on assignment are usually exempt from occupancy taxes if they can present you with an exemption certificate.

That GRI does include income for cleaning, taxes etc. though normally, which is really pass through expenses for the most part.

Your 2023 tax deadline is coming up.

I'm still thinking if this is the right move for me given the high property taxes there, hassles of out-of-state management, additional CA taxes, as opposed to simply investing in index funds (which might have more returns).

Tax benefits.3.