But I was wondering if that would not even apply because the lien is more than 10 years old? 

But does it apply to real estate investing?

I currently own 1 rental home in California and one in Indiana so I believe , if Prop 15 passes, it would not apply to me. 

@Rhett Tullis  That's exactly my question right now... we wouldn't be evicting for non-payment, so in theory, the moratorium wouldn't apply. 

We are doing a rehab on a single family home in Angelino Heights and need plans drafted before applying for permits with the city.

I know that in order for me to apply for another loan I'll have to take into account the loan for the Oregon property.

@Joe VilleneuveHaving a better idea of the property condition in real time, controlling who moves in next door, maybe savings on repairs by combining primary and investment capex expenses (IE, a painter might give us a better deal painting both properties at once), really knowing tenant and planning for future lease extensions or termination.All arguable of course.

So for example if you purchase a property from a homeowner their property taxes will have been lower than yours once the homestead credit no longer applies to the property.  

From what he says, all rentals will now have to apply and pay for a license and pay for an inspection every two years as well to make sure it meets their requirements.

I am just getting started and applied for my first pre-approval.