As long as you are getting the promised return over X years of the hold and it is stated in the documents this would or could occur, it shouldn't be too much of difference.

The Taxable Value is uncapped and equated to the SEV upon a sale or other transfer of property ownership, with limited exceptions.Once you know the Taxable Value, you can look up the property tax millage rates, which each city & county sets separately (with voter approval).So, yes, it is very possible for property taxes to jump from $907 to $3200 if the seller has owned the property for quite some time.You can use this tool to estimate your future taxes after they are uncapped: https://www.michigan.gov/taxes/0,4676,7-238-43535_43540---,00.htmlYou might want to read our series about “How to Screen a PMC Better than a Tenant”, since selecting the wrong PMC is usually more harmful than selecting a bad tenant: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processes

Plus make sure you have reserves for the unexpected maintenance that occurs on investments.  

While sea level rise is a major contributor to flooding on the East and Gulf Coasts, the majority of flooding in the L.A. area is driven by rainfall and flash-flood events that occur in 1-in-100-year or 1-in-500-year storms, as opposed to some consistent precipitation events.

Keep searching for a house while this one buildsWe'd like to avoid #1 as we believe appreciation has already occured as prices continue to skyrocket in the area. #2 isn't ideal given we'd like to move in somewhere by EoY. 

They will have much more focused feedback than a real estate agent - most of whom have little clue what an investor landlord is looking for.3) Make sure you find & hire your own inspector to avoid conflicts of interest4) Make sure any purchase agreement has contingencies to receive leases, rent ledgers, rent applications, etc BEFORE the closing.You might want to read our series about “How to Screen a PMC Better than a Tenant”, since selecting the wrong PMC is usually more harmful than selecting a bad tenant: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processes

As of late last night, one of those miracles occurred.

The life transitions that normally happen like downsizing and job transfers are not occurring because of COVID.

The closing date must occur before the original expiration date of the lease agreement.My tenant did not notify me with a written intent to purchase or inform me of a closing date. 

On the other axis you have a probability/frequency scale ( how likely is this thing to occur?