Hey guys,to rent an apartment in my good neighborhood (right next to Balboa park, San Diego), costs: -1bedrrom: 1000-1300$/month (average 1100)-2bedroom: 1300-1950$/month (average 1600)Data taken from www.rentometer.comMy fiance and I were thinking about PURCHASING a condo that we can stay in for 4 years, and then move into a house in a good neighborhood away from the city.

I'm lucky in that my local RE data service has up to date comps and includes all sales.

When I challenged the appraisal with legitimate, relevant data the appraiser missed, the process went out like this: Bank goes to the same moron appraiser with information, asks appraiser to reconsider.

I believe you're on the right track, but you should know before you buy if you can bring the subject up in value to the desired comps, if not and you're selling the runt in the litter, healthy and in good shape, just smaller or less expensive, then you should have an idea about your profits and probably a quicker sale.

Property management is sue happy.E and O insurance carriers charge money with policies based on data they have learned over time just like car insurance.Usually when tenants and owners have an argument the attorneys say let's go after the property manager.Property management doesn't pay much,is a huge headache,and is sue happy.E and O knows PM is the highest form of litigation claims coupled with construction projects.When a broker sets up a PM company they are smart to keep a separate company so if sued they can shut it down without affecting the regular brokerage or their other assets.

You'd need more data to determine the actual effect of -200 sf and -1 half bath.Comp 2 is several months old and the square footage doesn't easily reconcile with the number of beds/baths.

Clark,Welcome to the community its a great place to learn and find invaluable resources.

MLS.You'll need to either be an agent to get access or have an agent to pull data for you.

I never bought it with the intention of making a profit,but it has doubled in value.

Around the area in which the inherited house sits, there are also less expensive houses that could provide similar cash flow, but I would have to set up another management company in that town and I don't think the area will come up in value as much, as it's a smaller town.I considered other things to improve the cashflow on it, such as developing or renting out the oversized garage separately, but I don't think that would work.