Indio is currently STR friendly as well as the HOA but I've heard there may be caps coming soon by the HOA - we wouldn't have to worry yet. 

CAP rate or wholesale value. 

If you do that, you must put a cap on taxes, insurance, and repairs......and that will never happen. 

I could lower the price, but need to make $4200 to break even after 8% vacancy, maintenance 5%,  5% cap ex, monthly utilities, etc.

Hopefully you did not pay too much for the dirt. 1 acre is optimal these days because of desired double to triple drive thru for QSR.It can become a problem because if they make the building smaller you get less rent but they do more sales.Example a QSR used to be 3,000 to 4,000 sq ft but now instead wants double drive thru's as not many go inside for fast food like pre-covid.If you get 1,000 a foot less at 30 a foot you just lost 30k NOI and now at 5 cap example paying all cash NNN once developed you have lost 600k value.It can fine as long as you do not overpay for the land.

I had a beer with my brother recently and after I laid out my path forward with all the numbers involved, he said “you can’t afford to stay” … pension won’t be worth enough to justify staying in a job that has a pretty hard cap on earnings for a pension that won’t be worth enough to make a difference in my life, let alone the lives of my children.

With the 3rd one I was the one who told him that for 1 end cap unit it is around the second RTU in the back, take a hose up there and spray around that really good, I don't care how long. 

Some markets have an easier time absorbing the types of cap ex you appear to need compared to others. 3.

Installing a cap on that line fixed the problem.

Hopefully it includes vacancy, maintenance/cap ex, PM (even if self managed), misc, etc.  -$5k appreciation in 12 months is $416/month of appreciation.