Question: If my original primary residence is a multi-unit property, am I still eligible totransfer the base year value to a replacement primary residence?

From what I've notice is that most of the gulf front investments are appreciation based with break even or lower net profit on cashflow.

Im trying to navigate how my tax base gets reassessed as it relates to this. 

Feel free to reach out if you are looking around up here, 20k lots do come up in well traveled tourist areas from time to time. 

hey Danielle thanks for responding, so i looked up the zoning for the area where the property is and it came back as residential high density which i believe is what i am looking forso is that based off 1 unit/ per a certain amount of space such as a half an acre or less I'm happy to know some one has done the conversion, the illegal apartments seem like lawsuits waiting to happen

I gave an offer to the agent based on my numbers and they asked for proof of funds.  

If you are confident that this developer can complete the project on time and budget, while also delivering a product (condos) that consumers in this market want, then your big two risks are handled.Now specifically on this deal: Based on the little info you mentioned, these are about $1.5mm condos.  

Prop 19 requires one of the sons to make the home their primary residence within a year and file exemption so it is not reassessed from base value + 1M.Question is how long does one of the sons need to make this home their primary residence?

As long as they get paid (which they will) I think they are open to all ideas in and out of the box.The property taxes are set based on a 1950’s rate and if they reset, I’ll have to pay thousands more for every year that I own the home.

@Carlos Lez what does your Lease state about "acts of nature" and other occurrences out of your control?