If you buy now and rates have come down in 1-2 years, your property value would have also likely appreciated as values rise when rates come down in general.In regards to your point in cash flow – I agree if immediate cash flow is what you care about the most.

Readers are advised to seek professional advice.

Not only you'd be against the government's interests but they've already proven they won't hesitate to arbitrarily infringe on your property rights.Why anyone would want to invest in a market where cash flow is deeply negative, the laws favor tenants  and the government does anything they can to prevent you from getting capital gains of taxing them mightily if you do get them is beyond my understanding.While it might make sense for a wealthy Chinese to park their money safely in a Vancouver property and not care about making money with it, it won't make sense for the average BP member who's in wealth creation mode.

You are aware of the local communities, employment marketplaces, and prospective growth regions.Equity Building: In a market like San Diego where real estate values have traditionally increased, house hacking may be a potent means of accumulating equity.Long-Term Considerations: House hacking locally could fit into your lifestyle if you intend to live in San Diego long-term and have family concerns.You might also explore a hybrid approach – investing locally in a house hack while allocating some capital to out-of-state investments for diversification.Remember to consult with real estate professionals, conduct due diligence, and possibly network with investors in both local and out-of-state markets.

Accountants are in such demand, that the best are not even accepting clients half the time.The other problem I see often with accountants on here is that they specialize in larger investors, and have really high prices when you as a smaller investor do not need all the bells and whistles.Another thing I see is folks thinking they need to have a tax professional in their state.

However, it is always advisable to consult with a tax professional or accountant to ensure that you meet all the necessary requirements for the exemption. 

There is no guarantee someone will take care of newly refinished flooring. 

My question(s) are besides getting a new lease agreement in place what else should I be taking care of immediately and/or in the short term.

I've been reading up a bit, consulting with civil engineers, and contacting the City of San Diego on SB9 but I am by no means a professional.  

However, if you are able to sell the land, you can still use the proceeds to invest in property in the location where you plan to retire.Ultimately, it's important to carefully weigh the costs and potential benefits of building a home on your current property versus selling and investing elsewhere.