And per your last sentence, I am assuming you are saying that current rates are still historically low.

Least importantly in my opinion is price appreciation historically CA has appreciated a bit faster than other parts of the country, but that is not guaranteed.

Neighborhoods I've been looking into are all east of I-95, and south of Okeechobee Blvd. with the exception of Old Northwood Historic District which is east of I-95 between approx 28th--39th street. 

I believe it's still a good market to invest in since historically it's always had a high number of tourism. 

Like you, I have an appreciation for historical homes.

Hi Patrick,In regard to the expenses, you'll need to get your hands on the historical profit and loss statements and base your projected expenses on those.

Contact the utility provider and get an historical average based on the last year of use.

I would take historical revenue with caution, some of the peak rates in 2021/2022 may not be sustainable.

I'm struggling to find a contractor to repair an exterior millwork decorative cornice on a historic property in the Newburgh / Beacon area. 

If you just include utilities, the tenants tend to be wasteful because they don't see the bills and their actual use doesn't affect their budget.I get an average based on historical use, then I split that based on the number of units, size of units, amenities included, etc.